Insight Enterprises (NASDAQ:NSIT) Shares Gap Up After Better-Than-Expected Earnings

Insight Enterprises, Inc. (NASDAQ:NSIT) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $173.22, but opened at $184.84. Insight Enterprises shares last traded at $178.79, with a volume of 34,988 shares traded.

The software maker reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.55. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.78 EPS.

Wall Street Analysts Forecast Growth

NSIT has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a report on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on shares of Insight Enterprises from $193.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday. StockNews.com raised shares of Insight Enterprises from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Barrington Research reaffirmed an “outperform” rating and set a $211.00 price target on shares of Insight Enterprises in a research note on Tuesday, April 23rd.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Insight Enterprises

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its position in Insight Enterprises by 22.7% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 5,902 shares of the software maker’s stock valued at $859,000 after acquiring an additional 1,093 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Insight Enterprises by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker’s stock valued at $598,220,000 after purchasing an additional 245,814 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in shares of Insight Enterprises by 3.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 635,345 shares of the software maker’s stock worth $112,577,000 after purchasing an additional 23,085 shares in the last quarter. 13D Management LLC grew its stake in Insight Enterprises by 11.6% during the 3rd quarter. 13D Management LLC now owns 83,953 shares of the software maker’s stock worth $12,215,000 after buying an additional 8,721 shares during the last quarter. Finally, Pacer Advisors Inc. grew its stake in Insight Enterprises by 53.1% during the 4th quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker’s stock worth $126,194,000 after buying an additional 247,049 shares during the last quarter.

Insight Enterprises Stock Up 8.6 %

The company has a 50-day moving average of $184.54 and a 200-day moving average of $174.35. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.31. The company 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.

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.