Insight Enterprises (NASDAQ:NSIT) Trading Up 7.8% After Strong Earnings

Insight Enterprises, Inc. (NASDAQ:NSIT) rose 7.8% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $192.26 and last traded at $192.26. Approximately 203,955 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 243,563 shares. The stock had previously closed at $178.42.

The software maker reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.55. Insight Enterprises had a return on equity of 20.64% and a net margin of 3.07%. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the company posted $1.78 EPS. The business’s revenue was up 2.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NSIT shares. StockNews.com raised Insight Enterprises from a “hold” rating to a “buy” rating in a report on Friday. Barrington Research restated an “outperform” rating and set a $211.00 price objective on shares of Insight Enterprises in a research report on Tuesday, April 23rd. Stifel Nicolaus boosted 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. raised their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday.

Insiders Place Their Bets

In other Insight Enterprises news, insider Samuel C. Cowley sold 7,278 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $187.62, for a total value of $1,365,498.36. Following the transaction, the insider now owns 23,009 shares in the company, valued at $4,316,948.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard E. Allen sold 10,000 shares of the stock in a transaction on 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 transaction, the director now owns 30,647 shares in the company, valued at approximately $5,680,114.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Samuel C. Cowley sold 7,278 shares of Insight Enterprises 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 completion of the sale, the insider now directly owns 23,009 shares of the company’s stock, valued at approximately $4,316,948.58. The disclosure for this sale can be found here. Insiders sold a total of 20,918 shares of company stock worth $3,888,203 in the last quarter. 1.23% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Insight Enterprises

Several institutional investors and hedge funds have recently added to or reduced their stakes in NSIT. Janney Montgomery Scott LLC acquired a new position in Insight Enterprises during the 1st quarter worth $431,000. BNP Paribas Financial Markets lifted its position in shares of Insight Enterprises by 22.9% during the 1st quarter. BNP Paribas Financial Markets now owns 37,925 shares of the software maker’s stock worth $7,036,000 after purchasing an additional 7,067 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Insight Enterprises by 36.5% during the 1st 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 last quarter. Verdence Capital Advisors LLC bought a new stake in Insight Enterprises during the 1st quarter valued at approximately $210,000. Finally, Shaker Investments LLC OH acquired a new stake in Insight Enterprises in the 1st quarter valued at approximately $547,000.

Insight Enterprises Trading Up 8.6 %

The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.23 and a current ratio of 1.28. The company 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. The company has a 50-day simple moving average of $184.54 and a 200 day simple moving average of $174.35.

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.