Insight Enterprises (NASDAQ:NSIT) Stock Price Down 8.1% on Disappointing Earnings

Key Points

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Shares of Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report) fell 8.1% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $136.96 and last traded at $132.89. 51,691 shares were traded during 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). Insight Enterprises had a return on equity of 18.68% and a net margin of 1.79%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.15 billion. During the same period in the prior year, the company earned $2.46 EPS. The firm's revenue was down 3.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on NSIT shares. Barrington Research reaffirmed an "outperform" rating and issued a $164.00 target price on shares of Insight Enterprises in a research note on Monday, July 21st. JPMorgan Chase & Co. raised their target price on shares of Insight Enterprises from $152.00 to $165.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fiduciary Management Inc. WI boosted its stake in Insight Enterprises by 17.1% during the 1st quarter. Fiduciary Management Inc. WI now owns 949,243 shares of the software maker's stock worth $142,377,000 after acquiring an additional 138,914 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Insight Enterprises by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,409 shares of the software maker's stock worth $124,934,000 after acquiring an additional 2,944 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Insight Enterprises by 48.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 558,356 shares of the software maker's stock worth $83,748,000 after acquiring an additional 181,104 shares during the last quarter. Northern Trust Corp boosted its stake in Insight Enterprises by 16.5% during the 4th quarter. Northern Trust Corp now owns 446,526 shares of the software maker's stock worth $67,917,000 after acquiring an additional 63,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Insight Enterprises by 1.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 368,502 shares of the software maker's stock worth $55,272,000 after acquiring an additional 3,866 shares during the last quarter.

Insight Enterprises Stock Down 1.7%

The firm's 50 day moving average is $136.99 and its two-hundred day moving average is $145.53. The firm has a market cap of $3.73 billion, a P/E ratio of 28.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a current ratio of 1.29, a quick ratio of 1.26 and a debt-to-equity ratio of 0.83.

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.