Insight Enterprises (NASDAQ:NSIT) was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday, The Fly reports. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also weighed in on NSIT. Barrington Research raised their price objective on Insight Enterprises from $102.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, May 7th. They noted that the move was a valuation call. Zacks Investment Research lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, May 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Insight Enterprises currently has a consensus rating of “Buy” and an average target price of $96.88.
Shares of NASDAQ NSIT opened at $106.60 on Wednesday. Insight Enterprises has a fifty-two week low of $44.15 and a fifty-two week high of $107.26. The company’s 50 day simple moving average is $101.70. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 0.30. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.59 and a beta of 1.83.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings data on Thursday, May 6th. The software maker reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.14). Insight Enterprises had a net margin of 2.17% and a return on equity of 16.91%. The business had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.15 billion. During the same quarter last year, the business earned $1.30 EPS. Insight Enterprises’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, equities analysts anticipate that Insight Enterprises will post 6.71 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of NSIT. ValueAct Holdings L.P. acquired a new position in Insight Enterprises during the 1st quarter valued at approximately $104,962,000. SummerHaven Investment Management LLC acquired a new position in Insight Enterprises during the 4th quarter valued at approximately $697,000. Norges Bank acquired a new position in Insight Enterprises during the 4th quarter valued at approximately $39,907,000. Janus Henderson Group PLC boosted its position in Insight Enterprises by 115.8% during the 4th quarter. Janus Henderson Group PLC now owns 546,223 shares of the software maker’s stock valued at $41,562,000 after purchasing an additional 293,099 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Insight Enterprises by 1,309.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 245,679 shares of the software maker’s stock valued at $23,443,000 after purchasing an additional 228,245 shares during the period.
About Insight Enterprises
Insight Enterprises, Inc provides information technology hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It provides solutions to gain insights to network enabled devices, and spots patterns and trends through mass analysis; custom applications to help clients create disruption; custom-developed mobile, cloud, and IoT applications; and custom-developed solutions to help clients review actionable insights within their data, including artificial intelligence for prediction, optimization, cognitive, and vision services.
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