Insight Enterprises (NASDAQ:NSIT) Shares Gap Up on Strong Earnings

Shares of Insight Enterprises, Inc. (NASDAQ:NSIT) gapped up before the market opened on Thursday following a better than expected earnings announcement. 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.

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

Analyst Ratings Changes

Several research firms recently weighed in on NSIT. StockNews.com upgraded shares of Insight Enterprises from a “hold” rating to a “buy” rating in a report on Friday. JPMorgan Chase & Co. boosted their target price on Insight Enterprises from $193.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus increased their price target on Insight Enterprises from $170.00 to $192.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Finally, Barrington Research reissued an “outperform” rating and issued a $211.00 price objective on shares of Insight Enterprises in a research report on Tuesday, April 23rd.

Insider Buying and Selling

In related news, Director Richard E. Allen sold 10,000 shares of Insight Enterprises stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $185.34, for a total value of $1,853,400.00. Following the sale, the director now owns 30,647 shares of the company’s stock, valued at approximately $5,680,114.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Insight Enterprises news, insider Samuel C. Cowley sold 7,278 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 23,009 shares of the company’s stock, valued at $4,316,948.58. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard E. Allen sold 10,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was 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 of the company’s stock, valued at approximately $5,680,114.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,918 shares of company stock worth $3,888,203. Insiders own 1.23% of the company’s stock.

Institutional Trading of Insight Enterprises

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Insight Enterprises by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,111,475 shares of the software maker’s stock valued at $598,220,000 after buying an additional 245,814 shares in the last quarter. Capital World Investors grew its position in shares of Insight Enterprises by 3.5% in the fourth quarter. Capital World Investors now owns 1,682,004 shares of the software maker’s stock valued at $298,034,000 after purchasing an additional 56,715 shares in the last quarter. Fiduciary Management Inc. WI raised its stake in shares of Insight Enterprises by 2.8% during the 4th quarter. Fiduciary Management Inc. WI now owns 791,752 shares of the software maker’s stock valued at $140,291,000 after purchasing an additional 21,501 shares during the period. Pacer Advisors Inc. lifted its holdings 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 purchasing an additional 247,049 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in 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 during the period.

Insight Enterprises Stock Up 8.6 %

The stock has a fifty day simple moving average of $184.54 and a two-hundred day simple moving average of $174.35. The firm has a market cap of $6.30 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 1.30 and a beta of 1.50. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.31.

About Insight Enterprises

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.