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

Insight Enterprises (NASDAQ:NSIT) issued its quarterly earnings results on Thursday. The software maker reported $2.37 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 analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. The business’s quarterly revenue 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

Insight Enterprises stock traded up $15.32 during midday trading on Friday, reaching $193.74. 426,548 shares of the stock traded hands, compared to its average volume of 233,546. 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 stock’s fifty day moving average is $184.54 and its 200-day moving average is $174.35. The stock has a market cap of $6.30 billion, a P/E ratio of 24.37, a PEG ratio of 1.30 and a beta of 1.50.

Insider Activity

In related news, insider Samuel C. Cowley sold 7,278 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $187.62, for a total transaction of $1,365,498.36. Following the sale, the insider now 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 available through the SEC website. In other Insight Enterprises news, insider Samuel C. Cowley sold 7,278 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total transaction of $1,365,498.36. Following the sale, the insider now directly owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard E. Allen sold 10,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $5,680,114.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,918 shares of company stock worth $3,888,203. 1.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Barrington Research restated an “outperform” rating and set a $211.00 target price on shares of Insight Enterprises in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating in a research report on Friday. Stifel Nicolaus upped their target price 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. Finally, JPMorgan Chase & Co. increased 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.

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.