Insight Enterprises (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Saturday. The firm currently has a $46.00 price target on the software maker’s stock. Zacks Investment Research‘s price target indicates a potential upside of 5.94% from the stock’s current price.
According to Zacks, “Insight Enterprises Inc., is a global direct marketer of brand name computers, hardware and software. It is an Arizona-based publicly traded global technology company that focuses on business-to-business and information technology capabilities. The company markets to small-and-medium-sized businesses, through a combination of a strong outbound telemarketing sales force, electronic commerce, electronic marketing and direct mail catalogs. The company offers an extensive assortment of computer hardware and software. The company’s sales force, aggressive marketing strategies and streamlined distribution, together with its advanced proprietary information system, have resulted in high customer loyalty and strong, profitable growth. “
Other research analysts have also recently issued reports about the stock. B. Riley reissued a “buy” rating and set a $53.00 price target (down from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. BidaskClub raised shares of Insight Enterprises from a “sell” rating to a “hold” rating in a research report on Friday, April 20th. Finally, ValuEngine cut shares of Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.00.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Wednesday, May 2nd. The software maker reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.34. Insight Enterprises had a net margin of 1.57% and a return on equity of 15.75%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.53 billion. During the same period last year, the company posted $0.38 EPS. Insight Enterprises’s revenue was up 19.3% on a year-over-year basis. research analysts forecast that Insight Enterprises will post 4.39 earnings per share for the current fiscal year.
Insight Enterprises announced that its board has authorized a share repurchase plan on Wednesday, February 14th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in Insight Enterprises by 0.9% during the 4th quarter. BlackRock Inc. now owns 5,209,461 shares of the software maker’s stock valued at $199,472,000 after purchasing an additional 48,391 shares in the last quarter. Standard Life Aberdeen plc increased its stake in Insight Enterprises by 33.8% during the 4th quarter. Standard Life Aberdeen plc now owns 2,137,725 shares of the software maker’s stock valued at $81,854,000 after purchasing an additional 539,477 shares in the last quarter. Pzena Investment Management LLC increased its stake in Insight Enterprises by 13.5% during the 4th quarter. Pzena Investment Management LLC now owns 973,385 shares of the software maker’s stock valued at $37,271,000 after purchasing an additional 115,884 shares in the last quarter. Boston Partners increased its stake in Insight Enterprises by 13.1% during the 1st quarter. Boston Partners now owns 935,933 shares of the software maker’s stock valued at $32,692,000 after purchasing an additional 108,444 shares in the last quarter. Finally, Frontier Capital Management Co. LLC increased its stake in Insight Enterprises by 57.4% during the 1st quarter. Frontier Capital Management Co. LLC now owns 847,897 shares of the software maker’s stock valued at $29,617,000 after purchasing an additional 309,040 shares in the last quarter. Institutional investors and hedge funds own 97.67% of the company’s stock.
About Insight Enterprises
Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.
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