Insight Enterprises (NASDAQ:NSIT) Updates FY22 Earnings Guidance

Insight Enterprises (NASDAQ:NSITGet Rating) updated its FY22 earnings guidance on Thursday. The company provided earnings per share guidance of $8.55-8.75 for the period, compared to the consensus earnings per share estimate of $8.03. Insight Enterprises also updated its FY 2022 guidance to $8.55-$8.75 EPS.

Insight Enterprises Price Performance

Shares of NSIT stock traded down $2.05 during trading hours on Friday, hitting $92.51. 219,499 shares of the company’s stock were exchanged, compared to its average volume of 204,573. The stock’s 50-day moving average is $91.08 and its 200-day moving average is $97.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.48 and a quick ratio of 1.26. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60. Insight Enterprises has a 52 week low of $82.50 and a 52 week high of $111.02.

Insight Enterprises (NASDAQ:NSITGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.76. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.61 billion. Insight Enterprises had a return on equity of 19.60% and a net margin of 2.53%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.91 earnings per share. As a group, research analysts forecast that Insight Enterprises will post 8.05 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on NSIT shares. StockNews.com cut Insight Enterprises from a buy rating to a hold rating in a report on Wednesday, May 11th. JPMorgan Chase & Co. started coverage on Insight Enterprises in a research report on Thursday, July 14th. They set a neutral rating and a $98.00 price target on the stock.

Insider Transactions at Insight Enterprises

In other Insight Enterprises news, Director Holdings L.P. Valueact bought 40,000 shares of Insight Enterprises stock in a transaction dated Wednesday, May 25th. The stock was bought at an average cost of $94.89 per share, for a total transaction of $3,795,600.00. Following the purchase, the director now owns 4,019,226 shares of the company’s stock, valued at approximately $381,384,355.14. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Holdings L.P. Valueact purchased 40,000 shares of Insight Enterprises stock in a transaction that occurred on Wednesday, May 25th. The stock was acquired at an average cost of $94.89 per share, for a total transaction of $3,795,600.00. Following the purchase, the director now directly owns 4,019,226 shares of the company’s stock, valued at approximately $381,384,355.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel C. Cowley sold 5,343 shares of the business’s stock in a transaction on Monday, May 9th. The shares were sold at an average price of $100.68, for a total value of $537,933.24. Following the completion of the sale, the insider now owns 25,000 shares of the company’s stock, valued at $2,517,000. The disclosure for this sale can be found here. In the last three months, insiders acquired 298,883 shares of company stock worth $29,223,189. 1.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insight Enterprises

A number of institutional investors have recently modified their holdings of the business. Quantbot Technologies LP acquired a new position in Insight Enterprises in the 1st quarter worth about $107,000. Federated Hermes Inc. boosted its position in shares of Insight Enterprises by 13.4% during the 1st quarter. Federated Hermes Inc. now owns 1,074 shares of the software maker’s stock valued at $115,000 after purchasing an additional 127 shares in the last quarter. Covestor Ltd raised its stake in Insight Enterprises by 5,213.3% during the 1st quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock worth $171,000 after buying an additional 1,564 shares during the period. Point72 Hong Kong Ltd raised its stake in Insight Enterprises by 131.4% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,796 shares of the software maker’s stock worth $193,000 after buying an additional 1,020 shares during the period. Finally, Eaton Vance Management raised its stake in Insight Enterprises by 13.5% during the 1st quarter. Eaton Vance Management now owns 1,910 shares of the software maker’s stock worth $204,000 after buying an additional 227 shares during the period.

About Insight Enterprises

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IInsight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services.

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