Insight Enterprises (NASDAQ:NSIT) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Insight Enterprises (NASDAQ:NSIT) from hold to strong-buy, adding to a generally positive analyst backdrop. The stock now carries a consensus rating of Moderate Buy with a $100 average price target.
• The company recently beat expectations on its latest earnings report, posting $2.88 EPS versus the $2.45 consensus estimate. Revenue came in at $2.13 billion, slightly above forecasts, and rose 1.2% year over year.
• Insight Enterprises also saw insider confidence, with CFO James A. Morgado buying 2,290 shares at $87.25 each. Meanwhile, several hedge funds increased their stakes, signaling continued institutional interest in the stock.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report issued on Tuesday,Zacks.com reports.

NSIT has been the subject of a number of other reports. Raymond James Financial raised Insight Enterprises from a "market perform" rating to an "outperform" rating and set a $100.00 price target for the company in a research note on Thursday, May 7th. Needham & Company LLC raised Insight Enterprises to an "overweight" rating in a research note on Wednesday, May 27th. Canaccord Genuity Group set a $75.00 price objective on Insight Enterprises in a report on Friday, May 8th. Weiss Ratings raised Insight Enterprises from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, June 17th. Finally, Wall Street Zen upgraded shares of Insight Enterprises from a "hold" rating to a "buy" rating in a research report on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.00.

Insight Enterprises Stock Up 0.3%

NSIT stock opened at $112.53 on Tuesday. The firm's 50-day moving average is $101.89 and its two-hundred day moving average is $87.61. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 1.04 and a beta of 1.08. Insight Enterprises has a 52 week low of $63.62 and a 52 week high of $148.58. The company has a current ratio of 1.22, a quick ratio of 1.17 and a debt-to-equity ratio of 0.92.

Insight Enterprises (NASDAQ:NSIT - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The software maker reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.45 by $0.43. Insight Enterprises had a net margin of 2.17% and a return on equity of 20.89%. The business had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.12 billion. During the same period last year, the firm posted $2.06 earnings per share. The business's revenue was up 1.2% on a year-over-year basis. Insight Enterprises has set its FY 2026 guidance at 11.000-11.500 EPS. On average, analysts forecast that Insight Enterprises will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Insight Enterprises

In related news, CFO James A. Morgado bought 2,290 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $87.25 per share, for a total transaction of $199,802.50. Following the acquisition, the chief financial officer directly owned 17,246 shares of the company's stock, valued at $1,504,713.50. The trade was a 15.31% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insight Enterprises

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Kennedy Capital Management LLC boosted its holdings in shares of Insight Enterprises by 14.2% in the third quarter. Kennedy Capital Management LLC now owns 177,075 shares of the software maker's stock worth $20,082,000 after buying an additional 22,072 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Insight Enterprises by 31.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 250,509 shares of the software maker's stock valued at $21,033,000 after acquiring an additional 59,987 shares during the period. Country Trust Bank raised its holdings in shares of Insight Enterprises by 45.6% during the fourth quarter. Country Trust Bank now owns 279,375 shares of the software maker's stock valued at $22,761,000 after acquiring an additional 87,538 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Insight Enterprises by 64.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 196,950 shares of the software maker's stock valued at $22,336,000 after acquiring an additional 76,992 shares in the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Insight Enterprises in the 4th quarter valued at approximately $4,400,000.

Insight Enterprises Company Profile

Insight Enterprises, Inc is a global technology provider headquartered in Tempe, Arizona. Founded in 1988, the company specializes in helping organizations harness the power of digital transformation by offering a comprehensive portfolio of IT hardware, software, cloud and licensing management solutions. Insight's expertise spans across the full technology lifecycle, from initial strategy and consulting to implementation, integration and ongoing managed services.

At the core of Insight's business are its consulting and professional services, which guide clients through complex technology environments and ensure optimal deployment of solutions.

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