Insight Enterprises (NSIT) Price Target Cut to $59.00 by Analysts at B. Riley

Insight Enterprises (NASDAQ:NSIT) had its price objective dropped by equities research analysts at B. Riley from $61.00 to $59.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the software maker’s stock. B. Riley’s target price would suggest a potential upside of 29.24% from the stock’s previous close.

A number of other brokerages have also issued reports on NSIT. BidaskClub raised Insight Enterprises from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 29th. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a research report on Wednesday, July 25th. Finally, ValuEngine lowered Insight Enterprises from a “hold” rating to a “sell” rating in a research report on Wednesday.

Shares of NSIT traded up $0.65 during midday trading on Thursday, reaching $45.65. The stock had a trading volume of 33,495 shares, compared to its average volume of 204,464. Insight Enterprises has a 52 week low of $32.10 and a 52 week high of $56.86. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.28 and a current ratio of 1.37. The company has a market capitalization of $1.79 billion, a PE ratio of 14.09 and a beta of 1.19.

Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Wednesday, November 7th. The software maker reported $0.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.09). The company had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.84 billion. Insight Enterprises had a return on equity of 16.42% and a net margin of 1.69%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. On average, equities research analysts forecast that Insight Enterprises will post 4.54 EPS for the current fiscal year.

In other news, Director Anthony Ibarguen sold 5,000 shares of Insight Enterprises stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $53.55, for a total transaction of $267,750.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Steven W. Dodenhoff sold 4,827 shares of Insight Enterprises stock in a transaction on Monday, August 27th. The shares were sold at an average price of $56.57, for a total value of $273,063.39. Following the transaction, the insider now owns 29,216 shares in the company, valued at approximately $1,652,749.12. The disclosure for this sale can be found here. Insiders have sold 15,827 shares of company stock worth $859,173 over the last ninety days. 1.77% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Insight Enterprises by 1.3% during the second quarter. BlackRock Inc. now owns 4,951,035 shares of the software maker’s stock valued at $242,253,000 after buying an additional 61,682 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Insight Enterprises by 2.3% during the second quarter. Northern Trust Corp now owns 1,581,099 shares of the software maker’s stock valued at $77,362,000 after buying an additional 35,657 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of Insight Enterprises by 7.7% during the third quarter. Frontier Capital Management Co. LLC now owns 973,870 shares of the software maker’s stock valued at $52,677,000 after buying an additional 69,222 shares in the last quarter. Boston Partners grew its holdings in shares of Insight Enterprises by 3.3% during the second quarter. Boston Partners now owns 966,531 shares of the software maker’s stock valued at $47,292,000 after buying an additional 30,598 shares in the last quarter. Finally, LSV Asset Management grew its holdings in shares of Insight Enterprises by 9.4% during the third quarter. LSV Asset Management now owns 698,967 shares of the software maker’s stock valued at $37,807,000 after buying an additional 59,767 shares in the last quarter. Institutional investors and hedge funds own 95.83% of the company’s stock.

About Insight Enterprises

Insight Enterprises, Inc provides information technology (IT) hardware, software, and service solutions for small and medium sized firms, enterprises, governments, schools, and health care organizations in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, stages, configures, integrates, tests, deploys, and maintains its products spanning endpoints to infrastructure; and provides infrastructure management solutions.

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