Wells Fargo & Company MN Raises Stake in Insperity Inc (NSP)
Wells Fargo & Company MN lifted its position in Insperity Inc (NYSE:NSP) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,283 shares of the business services provider’s stock after purchasing an additional 10,918 shares during the quarter. Wells Fargo & Company MN owned about 0.45% of Insperity worth $17,838,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new stake in shares of Insperity during the first quarter worth approximately $4,229,000. Rhumbline Advisers boosted its holdings in shares of Insperity by 1.7% during the first quarter. Rhumbline Advisers now owns 92,428 shares of the business services provider’s stock worth $6,428,000 after purchasing an additional 1,569 shares during the period. Comerica Bank boosted its holdings in shares of Insperity by 1.8% during the first quarter. Comerica Bank now owns 39,217 shares of the business services provider’s stock worth $3,055,000 after purchasing an additional 687 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Insperity by 41.4% during the first quarter. SG Americas Securities LLC now owns 5,184 shares of the business services provider’s stock worth $361,000 after purchasing an additional 1,517 shares during the period. Finally, Mackay Shields LLC acquired a new stake in shares of Insperity during the first quarter worth approximately $3,044,000. 82.48% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on NSP shares. ValuEngine upgraded shares of Insperity from a “hold” rating to a “buy” rating in a report on Thursday, May 17th. Roth Capital raised their price target on shares of Insperity from $88.00 to $123.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Zacks Investment Research upgraded shares of Insperity from a “hold” rating to a “buy” rating and set a $119.00 price target for the company in a report on Tuesday, August 7th. First Analysis restated an “equal weight” rating on shares of Insperity in a report on Thursday, August 2nd. Finally, Robert W. Baird raised their price target on shares of Insperity from $69.00 to $95.00 and gave the stock an “outperform” rating in a report on Monday, May 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $104.80.
Insperity (NYSE:NSP) last issued its quarterly earnings data on Wednesday, August 1st. The business services provider reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The firm had revenue of $922.30 million for the quarter, compared to analyst estimates of $900.20 million. Insperity had a net margin of 3.06% and a return on equity of 122.44%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 earnings per share. analysts predict that Insperity Inc will post 3.17 earnings per share for the current year.
In related news, CFO Douglas S. Sharp sold 2,165 shares of the firm’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $105.35, for a total transaction of $228,082.75. Following the transaction, the chief financial officer now owns 21,790 shares of the company’s stock, valued at $2,295,576.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Paul J. Sarvadi sold 3,471 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $104.00, for a total transaction of $360,984.00. Following the transaction, the chief executive officer now directly owns 582,052 shares in the company, valued at approximately $60,533,408. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 175,163 shares of company stock worth $19,180,472. Insiders own 9.58% of the company’s stock.
Insperity, Inc provides human resources (HR) and business solutions to enhance business performance for small and medium-sized businesses in the United States. The company offers its HR services through its Workforce Optimization and Workforce Synchronization solutions, which encompasses a range of human resources functions comprising payroll and employment administration, employee benefits, workers' compensation, government compliance, performance management and training, and development services.
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