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

Insight Enterprises (NASDAQ:NSIT) announced its quarterly earnings data on Thursday. The software maker reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.55, Briefing.com reports. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Insight Enterprises had a return on equity of 21.34% and a net margin of 3.23%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.78 earnings per share. Insight Enterprises updated its FY24 guidance to $10.60-10.90 EPS.

Insight Enterprises Stock Up 8.6 %

Shares of Insight Enterprises stock traded up $15.32 on Friday, hitting $193.74. 426,548 shares of the company traded hands, compared to its average volume of 233,546. The company has a 50-day moving average price of $184.54 and a 200 day moving average price of $174.35. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.31. Insight Enterprises has a 12-month low of $121.91 and a 12-month high of $194.57. The company has a market cap of $6.30 billion, a PE ratio of 24.37, a PEG ratio of 1.30 and a beta of 1.50.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NSIT shares. Stifel Nicolaus raised their target price on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a research note on Monday, April 15th. StockNews.com upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. lifted their price objective on shares of Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $211.00 target price on shares of Insight Enterprises in a report on Tuesday, April 23rd.

Insider Activity

In related news, Director Richard E. Allen sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total value of $1,853,400.00. Following the completion of the sale, the director now directly owns 30,647 shares in the company, valued at $5,680,114.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the completion of the transaction, the director now owns 30,647 shares of the company’s stock, valued at approximately $5,680,114.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of Insight Enterprises stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total value of $337,939.50. Following the sale, the chief accounting officer now directly owns 4,436 shares in the company, valued at approximately $810,324.12. The disclosure for this sale can be found here. Insiders have sold a total of 20,918 shares of company stock worth $3,888,203 in the last ninety days. Corporate insiders own 1.23% of the company’s stock.

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.