Redburn Atlantic Initiates Coverage on Insight Enterprises (NASDAQ:NSIT)

Research analysts at Redburn Atlantic initiated coverage on shares of Insight Enterprises (NASDAQ:NSIT) in a research report issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $220.00 price target on the software maker’s stock. Redburn Atlantic’s target price indicates a potential upside of 45.21% from the stock’s previous close.

NSIT has been the subject of a number of other reports. JPMorgan Chase & Co. dropped their target price on shares of Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barrington Research dropped their price objective on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $212.50.

Insight Enterprises Stock Down 0.7 %

Shares of NSIT opened at $151.50 on Friday. The company has a market capitalization of $4.81 billion, a P/E ratio of 19.06, a PEG ratio of 1.32 and a beta of 1.48. Insight Enterprises has a one year low of $147.28 and a one year high of $228.07. The business’s 50 day simple moving average is $201.83 and its 200-day simple moving average is $202.52. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.24 and a quick ratio of 1.20.

Insight Enterprises (NASDAQ:NSIT) last posted its quarterly earnings data on Thursday, October 31st. The software maker reported $2.19 EPS 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 business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same period in the prior year, the firm posted $2.37 EPS. Insight Enterprises’s revenue for the quarter was down 7.9% compared to the same quarter last year. As a group, sell-side analysts predict that Insight Enterprises will post 9.55 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer M. Vasin sold 739 shares of Insight Enterprises stock in a transaction on Monday, August 19th. The stock was sold at an average price of $206.03, for a total transaction of $152,256.17. Following the completion of the sale, the insider now directly owns 5,460 shares of the company’s stock, valued at $1,124,923.80. The trade was a 11.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.23% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Insight Enterprises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NSIT. Opal Wealth Advisors LLC acquired a new stake in shares of Insight Enterprises in the 2nd quarter valued at approximately $38,000. EntryPoint Capital LLC bought a new position in shares of Insight Enterprises during the first quarter worth $89,000. GAMMA Investing LLC boosted its position in shares of Insight Enterprises by 56.9% during the second quarter. GAMMA Investing LLC now owns 452 shares of the software maker’s stock worth $90,000 after purchasing an additional 164 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Insight Enterprises by 40.8% in the 2nd quarter. Blue Trust Inc. now owns 531 shares of the software maker’s stock valued at $99,000 after buying an additional 154 shares during the period. Finally, First Foundation Advisors bought a new stake in shares of Insight Enterprises in the 1st quarter valued at $195,000.

Insight Enterprises Company Profile

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.