Insight Enterprises (NASDAQ:NSIT) Rating Increased to Buy at BidaskClub

BidaskClub upgraded shares of Insight Enterprises (NASDAQ:NSIT) from a hold rating to a buy rating in a research note published on Saturday, June 29th, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Stifel Nicolaus started coverage on shares of Madrigal Pharmaceuticals in a report on Monday, June 24th. They set a hold rating and a $126.00 price target on the stock. B. Riley reissued a buy rating on shares of Insight Enterprises in a report on Monday, April 29th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $60.33.

NASDAQ NSIT traded down $0.53 during trading on Friday, hitting $56.09. The company had a trading volume of 132,695 shares, compared to its average volume of 153,498. The firm has a market capitalization of $2.01 billion, a P/E ratio of 12.11 and a beta of 1.20. The company has a current ratio of 1.53, a quick ratio of 1.39 and a debt-to-equity ratio of 0.11. Insight Enterprises has a one year low of $37.77 and a one year high of $60.10. The stock has a fifty day simple moving average of $55.87.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Wednesday, May 1st. The software maker reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.20. The business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.66 billion. Insight Enterprises had a net margin of 2.42% and a return on equity of 17.80%. Insight Enterprises’s revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.90 EPS. As a group, equities research analysts expect that Insight Enterprises will post 4.82 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in Insight Enterprises by 0.5% during the second quarter. Bessemer Group Inc. now owns 74,000 shares of the software maker’s stock worth $4,307,000 after buying an additional 400 shares during the period. Cascade Investment Advisors Inc. acquired a new position in Insight Enterprises during the second quarter worth approximately $29,000. Oregon Public Employees Retirement Fund increased its position in Insight Enterprises by 1.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 13,941 shares of the software maker’s stock worth $811,000 after buying an additional 200 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Insight Enterprises in the second quarter valued at approximately $2,997,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Insight Enterprises in the second quarter valued at approximately $400,000. Institutional investors own 97.75% 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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