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

Insight Enterprises (NASDAQ:NSIT) issued its quarterly earnings data on Thursday. The software maker reported $2.37 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $2.30 billion. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. Insight Enterprises’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.78 EPS. Insight Enterprises updated its FY24 guidance to $10.60-10.90 EPS.

Insight Enterprises Trading Up 8.6 %

NASDAQ:NSIT traded up $15.32 on Friday, reaching $193.74. 426,548 shares of the company’s stock were exchanged, 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. The firm has a market capitalization of $6.30 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.50. The business has a fifty day moving average of $184.54 and a 200-day moving average of $174.35. Insight Enterprises has a 52-week low of $121.91 and a 52-week high of $194.57.

Insiders Place Their Bets

In other news, Director Kathleen S. Pushor sold 1,790 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $185.12, for a total transaction of $331,364.80. Following the completion of the transaction, the director now directly owns 5,800 shares of the company’s stock, valued at $1,073,696. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Kathleen S. Pushor sold 1,790 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $185.12, for a total transaction of $331,364.80. Following the completion of the transaction, the director now directly owns 5,800 shares of the company’s stock, valued at $1,073,696. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard E. Allen sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total value of $1,853,400.00. Following the transaction, 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. Insiders have sold 20,918 shares of company stock worth $3,888,203 over the last three months. Company insiders own 1.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” 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 company a “hold” rating in a report on Monday, April 15th. Barrington Research restated an “outperform” rating and issued a $211.00 price objective on shares of Insight Enterprises in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating in a research note on Friday.

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.