Insight Enterprises (NASDAQ:NSIT) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report released on Friday.
Other equities research analysts also recently issued reports about the stock. B. Riley reissued a “buy” rating and issued a $56.00 price target (up from $54.50) on shares of Insight Enterprises in a report on Wednesday, November 8th. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Wednesday, January 3rd. Finally, ValuEngine downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $47.00.
Shares of Insight Enterprises (NSIT) opened at $35.42 on Friday. Insight Enterprises has a 1-year low of $32.10 and a 1-year high of $53.19. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.54 and a quick ratio of 1.59. The firm has a market cap of $1,267.75, a PE ratio of 10.93 and a beta of 1.40.
Insight Enterprises announced that its board has initiated a stock buyback program on Wednesday, February 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of NSIT. Standard Life Aberdeen plc raised its holdings in Insight Enterprises by 33.8% during the 4th quarter. Standard Life Aberdeen plc now owns 2,137,725 shares of the software maker’s stock worth $81,854,000 after buying an additional 539,477 shares during the period. Gratia Capital LLC raised its holdings in Insight Enterprises by 991.8% during the 4th quarter. Gratia Capital LLC now owns 361,300 shares of the software maker’s stock worth $13,834,000 after buying an additional 328,207 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in Insight Enterprises by 29.9% during the 3rd quarter. Paradigm Capital Management Inc. NY now owns 625,382 shares of the software maker’s stock worth $28,718,000 after buying an additional 143,868 shares during the period. Royce & Associates LP raised its holdings in Insight Enterprises by 30.2% during the 4th quarter. Royce & Associates LP now owns 605,242 shares of the software maker’s stock worth $23,175,000 after buying an additional 140,458 shares during the period. Finally, Pzena Investment Management LLC raised its holdings in Insight Enterprises by 13.5% during the 4th quarter. Pzena Investment Management LLC now owns 973,385 shares of the software maker’s stock worth $37,271,000 after buying an additional 115,884 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.
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About Insight Enterprises
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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