Insight Enterprises (NASDAQ:NSIT) Trading 7.8% Higher Following Strong Earnings

Insight Enterprises, Inc. (NASDAQ:NSIT)’s stock price traded up 7.8% during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $192.26 and last traded at $192.26. 203,955 shares were traded during trading, a decline of 16% from the average session volume of 243,563 shares. The stock had previously closed at $178.42.

The software maker reported $2.37 EPS for the quarter, beating the consensus estimate of $1.82 by $0.55. The business had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.30 billion. Insight Enterprises had a net margin of 3.23% and a return on equity of 21.34%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 earnings per share.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $5,680,114.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Samuel C. Cowley sold 7,278 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were 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 of the company’s stock, valued at approximately $4,316,948.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard E. Allen sold 10,000 shares of the firm’s 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 completion of the transaction, the director now directly owns 30,647 shares in the company, valued at approximately $5,680,114.98. The disclosure for this sale can be found here. Insiders have sold a total of 20,918 shares of company stock valued at $3,888,203 over the last quarter. Company insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

A number of hedge funds have recently made changes to their positions in the business. SummerHaven Investment Management LLC raised its stake in shares of Insight Enterprises by 1.2% in the 4th quarter. SummerHaven Investment Management LLC now owns 4,892 shares of the software maker’s stock valued at $867,000 after acquiring an additional 60 shares during the period. Blue Trust Inc. raised its stake in shares of Insight Enterprises by 13.2% in the 4th quarter. Blue Trust Inc. now owns 550 shares of the software maker’s stock valued at $97,000 after acquiring an additional 64 shares during the period. GAMMA Investing LLC grew its holdings in Insight Enterprises by 32.7% during the 1st quarter. GAMMA Investing LLC now owns 288 shares of the software maker’s stock valued at $53,000 after purchasing an additional 71 shares in the last quarter. Amalgamated Bank grew its holdings in Insight Enterprises by 0.6% during the 3rd quarter. Amalgamated Bank now owns 13,219 shares of the software maker’s stock valued at $1,923,000 after purchasing an additional 73 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its holdings in Insight Enterprises by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 9,598 shares of the software maker’s stock valued at $1,701,000 after purchasing an additional 77 shares in the last quarter.

Insight Enterprises Stock Performance

The stock’s fifty day moving average is $184.54 and its two-hundred day moving average is $174.51. The firm 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. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.23 and a current ratio of 1.27.

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.