JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Insight Enterprises (NASDAQ:NSIT) Stock

Insight Enterprises (NASDAQ:NSIT - Free Report) had its price objective raised by JPMorgan Chase & Co. from $152.00 to $165.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the software maker's stock.

Separately, Barrington Research reissued an "outperform" rating and issued a $164.00 price target on shares of Insight Enterprises in a report on Tuesday, May 20th.

Insight Enterprises Trading Up 0.5%

NASDAQ NSIT traded up $0.63 during mid-day trading on Thursday, hitting $140.02. The company's stock had a trading volume of 61,701 shares, compared to its average volume of 337,295. Insight Enterprises has a 52-week low of $126.10 and a 52-week high of $228.07. The stock's fifty day simple moving average is $136.16 and its two-hundred day simple moving average is $146.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.23 and a quick ratio of 1.19. The firm has a market capitalization of $4.47 billion, a P/E ratio of 28.01, a price-to-earnings-growth ratio of 1.29 and a beta of 1.20.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The software maker reported $2.06 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.03. Insight Enterprises had a net margin of 2.26% and a return on equity of 18.50%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter last year, the company earned $2.37 earnings per share. The business's quarterly revenue was down 11.6% compared to the same quarter last year. Research analysts expect that Insight Enterprises will post 9.89 EPS for the current year.

Institutional Investors Weigh In On Insight Enterprises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC bought a new stake in Insight Enterprises during the 1st quarter worth approximately $27,000. Bessemer Group Inc. increased its stake in shares of Insight Enterprises by 79.2% in the 1st quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock valued at $29,000 after acquiring an additional 84 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Insight Enterprises by 32.8% in the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock valued at $39,000 after acquiring an additional 63 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Insight Enterprises by 40.4% in the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock valued at $49,000 after acquiring an additional 95 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its position in shares of Insight Enterprises by 100.5% in the 1st quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock valued at $63,000 after purchasing an additional 210 shares during the period.

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.