Insight Enterprises (NASDAQ:NSIT) Shares Down 8.1% Following Weak Earnings

Key Points

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Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report) shares traded down 8.1% during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $136.96 and last traded at $132.89. 51,691 shares were traded during mid-day trading, a decline of 85% from the average session volume of 352,185 shares. The stock had previously closed at $144.59.

The software maker reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.49 by ($0.04). The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.15 billion. Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%. The firm's revenue was down 3.3% compared to the same quarter last year. During the same period last year, the company posted $2.46 EPS.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, July 17th. Barrington Research reiterated an "outperform" rating and issued a $164.00 price objective on shares of Insight Enterprises in a report on Monday, July 21st.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC bought a new position in Insight Enterprises during the 1st quarter worth approximately $27,000. Bessemer Group Inc. raised its holdings in Insight Enterprises by 79.2% during the 1st quarter. Bessemer Group Inc. now owns 190 shares of the software maker's stock worth $29,000 after purchasing an additional 84 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Insight Enterprises by 32.8% during the 4th quarter. NewEdge Advisors LLC now owns 255 shares of the software maker's stock worth $39,000 after purchasing an additional 63 shares during the last quarter. Parallel Advisors LLC raised its holdings in Insight Enterprises by 40.4% during the 1st quarter. Parallel Advisors LLC now owns 330 shares of the software maker's stock worth $49,000 after purchasing an additional 95 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in Insight Enterprises by 100.5% during the 1st quarter. Golden State Wealth Management LLC now owns 419 shares of the software maker's stock worth $63,000 after purchasing an additional 210 shares during the last quarter.

Insight Enterprises Trading Up 1.5%

The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.19 and a current ratio of 1.29. The firm's fifty day simple moving average is $136.99 and its 200-day simple moving average is $145.80. The stock has a market cap of $3.84 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20.

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.