Insight Enterprises (NASDAQ:NSIT) Earns Buy Rating from Analysts at Redburn Atlantic

Analysts at Redburn Atlantic initiated coverage on shares of Insight Enterprises (NASDAQ:NSIT) in a report released on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $220.00 price target on the software maker’s stock. Redburn Atlantic’s price target indicates a potential upside of 44.14% from the company’s current price.

A number of other research analysts have also commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barrington Research reduced their price target on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $212.50.

Insight Enterprises Stock Performance

Shares of NSIT stock opened at $152.63 on Friday. The stock has a 50-day moving average of $202.79 and a 200-day moving average of $202.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.20. The stock has a market cap of $4.85 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.38 and a beta of 1.48. Insight Enterprises has a one year low of $147.28 and a one year high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period last year, the company earned $2.37 EPS. The company’s revenue was down 7.9% compared to the same quarter last year. As a group, sell-side analysts expect that Insight Enterprises will post 9.55 earnings per share for the current year.

Insiders Place Their Bets

In other Insight Enterprises news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $206.03, for a total transaction of $152,256.17. Following the transaction, the insider now owns 5,460 shares of the company’s stock, valued at $1,124,923.80. This trade represents a 11.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.23% of the company’s stock.

Institutional Trading of Insight Enterprises

A number of hedge funds have recently bought and sold shares of NSIT. Opal Wealth Advisors LLC purchased a new position in shares of Insight Enterprises in the 2nd quarter worth about $38,000. GAMMA Investing LLC raised its holdings in shares of Insight Enterprises by 56.9% in the 2nd quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock worth $90,000 after purchasing an additional 164 shares during the period. EntryPoint Capital LLC bought a new position in Insight Enterprises during the first quarter valued at $89,000. Blue Trust Inc. increased its position in Insight Enterprises by 40.8% in the second quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock worth $99,000 after buying an additional 154 shares during the last quarter. Finally, Ausbil Investment Management Ltd bought a new stake in shares of Insight Enterprises in the second quarter valued at $195,000.

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.