Barrington Research Reiterates “Outperform” Rating for Insight Enterprises (NASDAQ:NSIT)

Insight Enterprises (NASDAQ:NSIT)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a research note issued to investors on Monday, Benzinga reports. They currently have a $225.00 target price on the software maker’s stock. Barrington Research’s price target would suggest a potential upside of 23.29% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Friday, July 5th. JPMorgan Chase & Co. cut their price objective on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Stifel Nicolaus raised their price target on shares of Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th.

Insight Enterprises Stock Performance

NASDAQ:NSIT traded up $0.98 during trading hours on Monday, reaching $182.50. The company had a trading volume of 198,358 shares, compared to its average volume of 221,677. The firm has a market cap of $5.94 billion, a PE ratio of 23.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.49. Insight Enterprises has a 1-year low of $139.34 and a 1-year high of $228.07. The business’s 50 day moving average price is $204.02 and its 200-day moving average price is $193.94. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.22 and a quick ratio of 1.22.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings data on Thursday, August 1st. The software maker reported $2.46 earnings per share for the quarter, missing analysts’ consensus estimates of $2.82 by ($0.36). Insight Enterprises had a net margin of 3.38% and a return on equity of 20.38%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the firm posted $2.56 EPS. The firm’s quarterly revenue was down 8.0% on a year-over-year basis. Research analysts forecast that Insight Enterprises will post 10.76 EPS for the current year.

Insider Buying and Selling

In other Insight Enterprises news, CEO Joyce A. Mullen sold 10,000 shares of Insight Enterprises stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $201.08, for a total transaction of $2,010,800.00. Following the completion of the sale, the chief executive officer now directly owns 40,807 shares of the company’s stock, valued at approximately $8,205,471.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Joyce A. Mullen sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $201.08, for a total value of $2,010,800.00. Following the completion of the sale, the chief executive officer now directly owns 40,807 shares of the company’s stock, valued at approximately $8,205,471.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Holdings L.P. Valueact sold 450,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $192.49, for a total value 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 $781,844,140.11. The disclosure for this sale can be found here. Insiders sold 462,750 shares of company stock worth $89,169,833 over the last 90 days. 1.23% of the stock is owned by insiders.

Hedge Funds Weigh In On Insight Enterprises

A number of large investors have recently bought and sold shares of NSIT. Guidance Capital Inc. lifted its position in Insight Enterprises by 8.4% in the second quarter. Guidance Capital Inc. now owns 2,581 shares of the software maker’s stock valued at $512,000 after purchasing an additional 201 shares during the period. Ritholtz Wealth Management increased its position in Insight Enterprises by 2.6% during the second quarter. Ritholtz Wealth Management now owns 8,474 shares of the software maker’s stock worth $1,681,000 after buying an additional 216 shares in the last quarter. Hanseatic Management Services Inc. raised its holdings in shares of Insight Enterprises by 1.8% in the second quarter. Hanseatic Management Services Inc. now owns 3,854 shares of the software maker’s stock worth $764,000 after acquiring an additional 69 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Insight Enterprises by 7.1% during the second quarter. Commonwealth Equity Services LLC now owns 1,567 shares of the software maker’s stock valued at $311,000 after acquiring an additional 104 shares during the last quarter. Finally, Ausbil Investment Management Ltd purchased a new stake in Insight Enterprises during the 2nd quarter worth about $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.