JPMorgan Chase & Co. initiated coverage on shares of Insight Enterprises (NASDAQ:NSIT) in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $68.00 price target on the software maker’s stock.
A number of other equities analysts have also issued reports on NSIT. BidaskClub lowered shares of Insight Enterprises from a hold rating to a sell rating in a research report on Saturday, August 17th. Zacks Investment Research raised shares of Insight Enterprises from a hold rating to a buy rating and set a $58.00 price target for the company in a research report on Friday, August 9th. Stifel Nicolaus raised their price target on shares of Insight Enterprises from $54.00 to $60.00 and gave the stock a hold rating in a research report on Monday, June 24th. Finally, ValuEngine lowered shares of Insight Enterprises from a hold rating to a sell rating in a research report on Friday, August 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $61.25.
NSIT stock traded up $0.78 during trading on Thursday, reaching $52.37. The company had a trading volume of 455,966 shares, compared to its average volume of 221,665. The firm has a 50-day simple moving average of $50.63 and a 200-day simple moving average of $54.66. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 11.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.29 and a current ratio of 1.38. Insight Enterprises has a twelve month low of $37.77 and a twelve month high of $60.10.
Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings results on Tuesday, August 6th. The software maker reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.10. Insight Enterprises had a net margin of 2.40% and a return on equity of 17.22%. The company had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period last year, the firm posted $1.45 EPS. Insight Enterprises’s revenue for the quarter was down .3% compared to the same quarter last year. Sell-side analysts expect that Insight Enterprises will post 4.86 earnings per share for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of NSIT. BlackRock Inc. increased its holdings in shares of Insight Enterprises by 2.0% during the 2nd quarter. BlackRock Inc. now owns 5,392,404 shares of the software maker’s stock valued at $313,837,000 after purchasing an additional 106,813 shares in the last quarter. United Services Automobile Association increased its holdings in shares of Insight Enterprises by 5.7% during the 2nd quarter. United Services Automobile Association now owns 121,761 shares of the software maker’s stock valued at $7,086,000 after purchasing an additional 6,544 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Insight Enterprises during the 2nd quarter valued at approximately $3,824,000. Nuveen Asset Management LLC purchased a new position in shares of Insight Enterprises during the 2nd quarter valued at approximately $40,910,000. Finally, UBS Asset Management Americas Inc. increased its holdings in shares of Insight Enterprises by 5.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 35,214 shares of the software maker’s stock valued at $2,049,000 after purchasing an additional 1,723 shares in the last quarter. 99.29% of the stock is owned by institutional investors.
About Insight Enterprises
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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