Insight Enterprises (NASDAQ:NSIT) Issues Quarterly Earnings Results

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

Insight Enterprises Price Performance

NASDAQ NSIT traded up $15.32 during trading hours on Friday, reaching $193.74. The company’s stock had a trading volume of 426,548 shares, compared to its average volume of 233,546. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.23 and a current ratio of 1.27. The company’s 50-day moving average is $184.54 and its two-hundred day moving average is $174.35. Insight Enterprises has a fifty-two week low of $121.91 and a fifty-two week high of $194.57. The stock 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.

Analysts Set New Price Targets

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

Insider Buying and Selling at Insight Enterprises

In other news, insider Samuel C. Cowley sold 7,278 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $187.62, for a total value of $1,365,498.36. Following the sale, the insider now directly owns 23,009 shares in the company, valued at $4,316,948.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Samuel C. Cowley sold 7,278 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total value of $1,365,498.36. Following the completion of the transaction, the insider now directly owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.67, for a total value of $337,939.50. Following the completion of the sale, the chief accounting officer now owns 4,436 shares in the company, valued at $810,324.12. The disclosure for this sale can be found here. In the last three months, insiders sold 20,918 shares of company stock worth $3,888,203. 1.23% of the stock is owned by corporate insiders.

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.