Barrington Research Has Lowered Expectations for Insight Enterprises (NASDAQ:NSIT) Stock Price

Insight Enterprises (NASDAQ:NSIT) had its price target reduced by analysts at Barrington Research from $205.00 to $164.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the software maker’s stock. Barrington Research’s target price would suggest a potential upside of 24.20% from the stock’s previous close.

Insight Enterprises Stock Performance

Shares of NSIT stock opened at $132.04 on Friday. The company has a market cap of $4.20 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.40 and a beta of 1.40. Insight Enterprises has a 52 week low of $128.01 and a 52 week high of $228.07. The firm has a 50 day moving average of $159.06 and a 200-day moving average of $171.45. The company has a quick ratio of 1.15, a current ratio of 1.18 and a debt-to-equity ratio of 0.30.

Insight Enterprises (NASDAQ:NSIT) last announced its quarterly earnings data on Thursday, February 6th. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.13. Insight Enterprises had a net margin of 2.87% and a return on equity of 18.95%. During the same quarter last year, the company earned $2.98 EPS. On average, equities analysts forecast that Insight Enterprises will post 9.89 earnings per share for the current year.

Hedge Funds Weigh In On Insight Enterprises

Hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA purchased a new stake in shares of Insight Enterprises during the 4th quarter valued at $57,380,000. Norges Bank purchased a new stake in Insight Enterprises during the fourth quarter worth about $47,585,000. Hennessy Advisors Inc. bought a new stake in shares of Insight Enterprises in the 4th quarter worth approximately $39,242,000. Pacer Advisors Inc. lifted its stake in Insight Enterprises by 26.6% in the fourth quarter. Pacer Advisors Inc. now owns 1,073,262 shares of the software maker’s stock valued at $163,243,000 after purchasing an additional 225,283 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Insight Enterprises by 65.7% in the fourth quarter. Wellington Management Group LLP now owns 270,797 shares of the software maker’s stock valued at $41,188,000 after purchasing an additional 107,397 shares during 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.