Insight Enterprises (NASDAQ:NSIT) Issues Quarterly Earnings Results

Insight Enterprises (NASDAQ:NSIT) released its earnings results 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. The business had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.30 billion. Insight Enterprises had a return on equity of 20.64% and a net margin of 3.07%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 earnings per share. Insight Enterprises updated its FY24 guidance to $10.60-10.90 EPS.

Insight Enterprises Stock Performance

NSIT stock traded up $15.32 during trading on Friday, reaching $193.74. The stock had a trading volume of 426,548 shares, compared to its average volume of 246,220. Insight Enterprises has a 52 week low of $121.91 and a 52 week high of $194.57. The stock’s 50 day moving average is $184.54 and its two-hundred day moving average is $174.35. The company has a current ratio of 1.28, a quick ratio of 1.23 and a debt-to-equity ratio of 0.34. The firm has a market cap of $6.30 billion, a PE ratio of 25.66, a PEG ratio of 1.26 and a beta of 1.50.

Insider Buying and Selling at Insight Enterprises

In other Insight Enterprises news, insider Samuel C. Cowley sold 7,278 shares of the stock in a transaction dated 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 transaction, the insider now owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Insight Enterprises news, insider Samuel C. Cowley sold 7,278 shares of the stock in a transaction dated 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 transaction, the insider now owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The transaction was disclosed in a filing 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 dated Friday, February 23rd. The shares were sold at an average price of $185.12, for a total value of $331,364.80. Following the completion of the transaction, the director now directly owns 5,800 shares in the company, valued at approximately $1,073,696. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,918 shares of company stock valued at $3,888,203. 1.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

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.