Insight Enterprises (NASDAQ:NSIT) announced that its board has initiated a stock repurchase program, which allows the company to buyback $50.00 million in outstanding shares on Wednesday, February 14th, EventVestor reports. This buyback authorization allows the software maker to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several equities research analysts have issued reports on the company. B. Riley restated a “buy” rating and set a $56.00 price objective (up from $54.50) on shares of Insight Enterprises in a report on Wednesday, November 8th. Zacks Investment Research upgraded Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, January 3rd. ValuEngine downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, BidaskClub downgraded Insight Enterprises from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $47.00.
Shares of Insight Enterprises (NSIT) opened at $35.42 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.59 and a debt-to-equity ratio of 0.35. Insight Enterprises has a twelve month low of $32.10 and a twelve month high of $53.19. The stock has a market capitalization of $1,280.29, a P/E ratio of 14.17 and a beta of 1.40.
COPYRIGHT VIOLATION WARNING: This article was reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://www.chaffeybreeze.com/2018/02/18/share-buyback-program-declared-by-insight-enterprises-nsit-board.html.
Insight Enterprises Company Profile
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.
Receive News & Ratings for Insight Enterprises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insight Enterprises and related companies with MarketBeat.com's FREE daily email newsletter.