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

Insight Enterprises (NASDAQ:NSIT) posted its earnings results on Thursday. The software maker reported $2.37 EPS for the quarter, beating 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 firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the firm earned $1.78 EPS. The firm’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 Stock Performance

Shares of NSIT stock traded up $15.32 during trading on Friday, reaching $193.74. The company had a trading volume of 426,548 shares, compared to its average volume of 246,220. Insight Enterprises has a one year low of $121.91 and a one year high of $194.57. The company has a market capitalization of $6.30 billion, a PE ratio of 25.66, a PEG ratio of 1.26 and a beta of 1.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.28 and a quick ratio of 1.23. The firm’s 50 day simple moving average is $184.54 and its two-hundred day simple moving average is $174.35.

Analysts Set New Price Targets

NSIT has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus upped their price objective on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a report on Monday, April 15th. 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. Finally, StockNews.com raised shares of Insight Enterprises from a “hold” rating to a “buy” rating in a report on Friday.

Insider Transactions at Insight Enterprises

In other news, Director Kathleen S. Pushor sold 1,790 shares of Insight Enterprises stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $185.12, for a total value of $331,364.80. Following the transaction, the director now directly owns 5,800 shares in the company, valued at $1,073,696. The transaction 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 Insight Enterprises stock in a transaction on Tuesday, February 27th. The stock was 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 directly owns 30,647 shares of the company’s stock, valued at $5,680,114.98. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen S. Pushor sold 1,790 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was 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 disclosure for this sale can be found here. Over the last three months, insiders sold 20,918 shares of company stock worth $3,888,203. 1.23% of the stock is owned by insiders.

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.