Insight Enterprises (NASDAQ:NSIT – Get 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:NSIT – Get 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
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
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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