Insight Enterprises (NASDAQ:NSIT) Shares Gap Up to $173.22

Insight Enterprises, Inc. (NASDAQ:NSIT)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $173.22, but opened at $184.84. Insight Enterprises shares last traded at $178.79, with a volume of 34,988 shares traded.

Analyst Upgrades and Downgrades

Several analysts have weighed in on NSIT shares. Stifel Nicolaus boosted their target price on shares of Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their price objective on shares of Insight Enterprises from $188.00 to $193.00 and gave the company a “neutral” rating in a research report on Thursday, April 11th. Barrington Research restated an “outperform” rating and issued a $211.00 target price on shares of Insight Enterprises in a research note on Tuesday, April 23rd. Finally, StockNews.com lowered Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Insight Enterprises Stock Performance

The company’s 50-day moving average price is $184.50 and its two-hundred day moving average price is $174.01. The company has a market cap of $5.86 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 1.33 and a beta of 1.50. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34.

Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Thursday, February 15th. The software maker reported $2.98 earnings per share for the quarter, missing analysts’ consensus estimates of $3.04 by ($0.06). The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.41 billion. Insight Enterprises had a return on equity of 20.64% and a net margin of 3.07%. The company’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.53 earnings per share. As a group, equities analysts forecast that Insight Enterprises, Inc. will post 10.59 earnings per share for the current year.

Insider Transactions at Insight Enterprises

In related news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total value of $337,939.50. Following the completion of the transaction, the chief accounting officer now owns 4,436 shares in the company, valued at approximately $810,324.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total transaction of $337,939.50. Following the sale, the chief accounting officer now owns 4,436 shares in the company, valued at $810,324.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel C. Cowley sold 7,278 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total transaction of $1,365,498.36. Following the completion of the transaction, the insider now directly owns 23,009 shares of the company’s stock, valued at approximately $4,316,948.58. The disclosure for this sale can be found here. Insiders have sold 20,918 shares of company stock valued at $3,888,203 over the last three months. Company insiders own 1.23% of the company’s stock.

Institutional Investors Weigh In On Insight Enterprises

Hedge funds have recently bought and sold shares of the business. Handelsbanken Fonder AB lifted its position in shares of Insight Enterprises by 34.2% in the third quarter. Handelsbanken Fonder AB now owns 3,530 shares of the software maker’s stock worth $514,000 after purchasing an additional 900 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Insight Enterprises by 3.7% during the 3rd quarter. Raymond James & Associates now owns 5,602 shares of the software maker’s stock valued at $815,000 after buying an additional 199 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Insight Enterprises by 6.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,510 shares of the software maker’s stock valued at $365,000 after acquiring an additional 145 shares in the last quarter. GW Henssler & Associates Ltd. acquired a new position in shares of Insight Enterprises in the third quarter worth $246,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Insight Enterprises by 7.6% during the third quarter. Bank of New York Mellon Corp now owns 309,407 shares of the software maker’s stock worth $45,019,000 after acquiring an additional 21,953 shares in the last quarter.

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.