Insight Enterprises (NASDAQ:NSIT) Stock Rating Upgraded by Zacks Investment Research

Insight Enterprises (NASDAQ:NSIT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

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. “

Several other analysts have also recently issued reports on the stock. B. Riley reissued a “buy” rating and set a $77.00 price target on shares of Insight Enterprises in a research report on Monday, February 10th. BidaskClub cut shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Friday, February 7th. Finally, ValuEngine cut shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.75.

NASDAQ NSIT opened at $59.15 on Friday. The firm’s 50-day moving average is $68.80 and its two-hundred day moving average is $60.54. Insight Enterprises has a 12 month low of $46.28 and a 12 month high of $73.22. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.62 and a quick ratio of 1.47. The stock has a market capitalization of $2.12 billion, a P/E ratio of 13.35 and a beta of 1.22.

Insight Enterprises (NASDAQ:NSIT) last posted its earnings results on Wednesday, February 12th. The software maker reported $1.57 EPS for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.04). The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2.37 billion. Insight Enterprises had a net margin of 2.06% and a return on equity of 17.32%. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 EPS. As a group, analysts anticipate that Insight Enterprises will post 6.6 EPS for the current year.

In related news, Director Bruce Armstrong sold 3,523 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $66.13, for a total transaction of $232,975.99. 1.75% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Caxton Associates LP acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $590,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $1,879,000. Jane Street Group LLC acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $701,000. Blueshift Asset Management LLC acquired a new stake in shares of Insight Enterprises during the fourth quarter worth $396,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of Insight Enterprises by 11.4% during the fourth quarter. UBS Asset Management Americas Inc. now owns 45,389 shares of the software maker’s stock worth $3,190,000 after purchasing an additional 4,630 shares during the period. Hedge funds and other institutional investors own 99.05% of the company’s stock.

Insight Enterprises Company Profile

Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.

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