Insight Enterprises (NASDAQ:NSIT) Reaches New 52-Week High at $216.15

Insight Enterprises, Inc. (NASDAQ:NSIT) shares hit a new 52-week high on Tuesday . The company traded as high as $216.15 and last traded at $215.73, with a volume of 22431 shares traded. The stock had previously closed at $208.52.

Analyst Ratings Changes

NSIT has been the subject of several recent research reports. JPMorgan Chase & Co. raised their price target on Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday, July 5th. Stifel Nicolaus raised their price objective on Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Barrington Research upped their target price on Insight Enterprises from $211.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, May 9th.

Insight Enterprises Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.22. The stock has a market cap of $7.19 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.68 and a beta of 1.49. The firm’s 50-day moving average is $202.14 and its 200 day moving average is $190.82.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Thursday, May 2nd. The software maker reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 earnings per share. Sell-side analysts anticipate that Insight Enterprises, Inc. will post 10.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Holdings L.P. Valueact sold 450,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total transaction of $86,620,500.00. Following the completion of the sale, the director now directly owns 4,061,739 shares of the company’s stock, valued at approximately $781,844,140.11. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Holdings L.P. Valueact sold 450,000 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total transaction of $86,620,500.00. Following the sale, the director now owns 4,061,739 shares in the company, valued at $781,844,140.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joyce A. Mullen sold 10,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $201.08, for a total transaction of $2,010,800.00. Following the completion of the transaction, the chief executive officer now owns 40,807 shares of the company’s stock, valued at $8,205,471.56. The disclosure for this sale can be found here. Insiders sold a total of 462,750 shares of company stock worth $89,169,833 over the last ninety days. 1.23% of the stock is owned by company insiders.

Institutional Trading of Insight Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC purchased a new stake in Insight Enterprises during the 2nd quarter worth approximately $38,000. GAMMA Investing LLC acquired a new stake in shares of Insight Enterprises during the fourth quarter worth approximately $40,000. SRS Capital Advisors Inc. bought a new stake in shares of Insight Enterprises in the fourth quarter worth $46,000. Signaturefd LLC raised its holdings in Insight Enterprises by 26.9% in the fourth quarter. Signaturefd LLC now owns 392 shares of the software maker’s stock valued at $69,000 after acquiring an additional 83 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Insight Enterprises during the 1st quarter worth $89,000.

About Insight Enterprises

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.