Insight Enterprises (NASDAQ:NSIT) Trading 7.8% Higher Following Strong Earnings

Insight Enterprises, Inc. (NASDAQ:NSIT)’s stock price traded up 7.8% during trading on Friday following a better than expected earnings announcement. The company traded as high as $192.26 and last traded at $192.26. 203,955 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 243,563 shares. The stock had previously closed at $178.42.

The software maker reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.55. Insight Enterprises had a net margin of 3.07% and a return on equity of 20.64%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm posted $1.78 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barrington Research reiterated an “outperform” rating and set a $211.00 target price on shares of Insight Enterprises in a report on Tuesday, April 23rd. Stifel Nicolaus increased their price objective on Insight Enterprises from $170.00 to $192.00 and gave the stock a “hold” rating in a report on Monday, April 15th. StockNews.com upgraded Insight Enterprises from a “hold” rating to a “buy” rating in a research note on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday.

Insider Activity

In other Insight Enterprises news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total transaction of $337,939.50. Following the transaction, the chief accounting officer now owns 4,436 shares of the company’s stock, valued at approximately $810,324.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Insight Enterprises news, CAO Rachael Ann Bertrandt Crump sold 1,850 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.67, for a total value of $337,939.50. Following the sale, the chief accounting officer now owns 4,436 shares in the company, valued at $810,324.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen S. Pushor sold 1,790 shares of Insight Enterprises stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.12, for a total value of $331,364.80. Following the transaction, the director now owns 5,800 shares of the company’s stock, valued at $1,073,696. The disclosure for this sale can be found here. Insiders sold 20,918 shares of company stock worth $3,888,203 in the last quarter. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

Large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC acquired a new position in Insight Enterprises in the 1st quarter valued at about $431,000. BNP Paribas Financial Markets grew its position in shares of Insight Enterprises by 22.9% in the first quarter. BNP Paribas Financial Markets now owns 37,925 shares of the software maker’s stock valued at $7,036,000 after purchasing an additional 7,067 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Insight Enterprises by 36.5% during the first quarter. Van ECK Associates Corp now owns 11,658 shares of the software maker’s stock worth $2,163,000 after purchasing an additional 3,118 shares during the period. Verdence Capital Advisors LLC acquired a new stake in Insight Enterprises during the 1st quarter worth approximately $210,000. Finally, Shaker Investments LLC OH acquired a new stake in Insight Enterprises during the 1st quarter worth approximately $547,000.

Insight Enterprises Price Performance

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 company has a 50 day moving average of $184.54 and a 200-day moving average of $174.35. The firm has a market capitalization of $6.30 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.26 and a beta of 1.50.

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.