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

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

Insight Enterprises Stock Up 8.6 %

NSIT opened at $193.74 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.27 and a quick ratio of 1.23. The company’s 50-day moving average is $184.54 and its 200 day moving average is $174.51. Insight Enterprises has a fifty-two week low of $121.91 and a fifty-two week high of $194.57. The firm has a market capitalization of $6.30 billion, a P/E ratio of 24.37, a PEG ratio of 1.41 and a beta of 1.50.

Wall Street Analyst Weigh In

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

Insider Activity at Insight Enterprises

In related news, Director Richard E. Allen sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the completion of the sale, the director now owns 30,647 shares in the company, valued at $5,680,114.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Samuel C. Cowley sold 7,278 shares of the company’s stock in a transaction that occurred 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 approximately $4,316,948.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard E. Allen sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total transaction of $1,853,400.00. Following the sale, the director now directly owns 30,647 shares in the company, valued at approximately $5,680,114.98. The disclosure for this sale can be found here. Insiders have sold 20,918 shares of company stock valued at $3,888,203 over the last ninety days. Corporate insiders own 1.23% of the company’s stock.

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.