Insight Enterprises (NASDAQ:NSIT) Releases Earnings Results, Beats Estimates By $0.55 EPS

Insight Enterprises (NASDAQ:NSIT) issued its quarterly earnings data on Thursday. The software maker reported $2.37 EPS for the quarter, topping the consensus estimate of $1.82 by $0.55, Briefing.com reports. Insight Enterprises had a return on equity of 20.64% and a net margin of 3.07%. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $1.78 earnings per share. Insight Enterprises’s revenue was up 2.4% compared to the same quarter last year. Insight Enterprises updated its FY24 guidance to $10.60-10.90 EPS.

Insight Enterprises Price Performance

Shares of Insight Enterprises stock traded up $15.32 during trading on Friday, reaching $193.74. 426,548 shares of the stock traded hands, compared to its average volume of 246,220. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.28 and a quick ratio of 1.23. Insight Enterprises has a 52-week low of $121.91 and a 52-week high of $194.57. The business has a fifty day simple moving average of $184.54 and a two-hundred day simple moving average of $174.35. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 25.66, a P/E/G ratio of 1.26 and a beta of 1.50.

Insider Transactions at Insight Enterprises

In related news, Director Kathleen S. Pushor sold 1,790 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.12, for a total value of $331,364.80. Following the sale, the director now owns 5,800 shares in the company, valued at $1,073,696. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $337,939.50. Following the sale, the chief accounting officer now owns 4,436 shares in the company, valued at approximately $810,324.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen S. Pushor sold 1,790 shares of Insight Enterprises stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $185.12, for a total transaction of $331,364.80. Following the transaction, the director now directly owns 5,800 shares of the company’s stock, valued at $1,073,696. The disclosure for this sale can be found here. Insiders have sold 20,918 shares of company stock valued at $3,888,203 in the last ninety days. Corporate insiders own 1.23% of the company’s stock.

Analyst Upgrades and Downgrades

NSIT has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday. Barrington Research reiterated an “outperform” rating and issued a $211.00 price target on shares of Insight Enterprises in a research report on Tuesday, April 23rd. StockNews.com raised Insight Enterprises from a “hold” rating to a “buy” rating in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Insight Enterprises from $170.00 to $192.00 and gave the stock a “hold” rating in a research report on Monday, April 15th.

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.