Insight Enterprises (NASDAQ:NSIT) Trading Up 7.8% Following Earnings Beat

Insight Enterprises, Inc. (NASDAQ:NSIT - Get Free Report)'s share price rose 7.8% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $192.26 and last traded at $192.26. Approximately 203,955 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 243,563 shares. The stock had previously closed at $178.42.

The software maker reported $2.37 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.55. Insight Enterprises had a net margin of 3.07% and a return on equity of 20.64%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the company posted $1.78 EPS. The firm's revenue for the quarter was up 2.4% on a year-over-year basis.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barrington Research reaffirmed an "outperform" rating and set a $211.00 price objective on shares of Insight Enterprises in a research note on Tuesday, April 23rd. 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. StockNews.com downgraded shares of Insight Enterprises from a "buy" rating to a "hold" rating in a research report on Friday, January 26th. Finally, Stifel Nicolaus increased their target price on shares of Insight Enterprises from $170.00 to $192.00 and gave the stock a "hold" rating in a research report on Monday, April 15th.

Insiders Place Their Bets

In other Insight Enterprises news, Director Richard E. Allen sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $185.34, for a total value of $1,853,400.00. Following the completion of the transaction, the director now owns 30,647 shares in the company, valued at approximately $5,680,114.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Richard E. Allen sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 30,647 shares in the company, valued at approximately $5,680,114.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Samuel C. Cowley sold 7,278 shares of the stock in a transaction that occurred 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 $4,316,948.58. The disclosure for this sale can be found here. Insiders sold a total of 20,918 shares of company stock worth $3,888,203 in the last 90 days. 1.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On Insight Enterprises

Several institutional investors and hedge funds have recently made changes to their positions in NSIT. Norges Bank bought a new position in Insight Enterprises during the fourth quarter worth $58,687,000. Westfield Capital Management Co. LP bought a new stake in Insight Enterprises in the fourth quarter valued at $56,128,000. Pacer Advisors Inc. lifted its stake in Insight Enterprises by 53.1% in the fourth quarter. Pacer Advisors Inc. now owns 712,197 shares of the software maker's stock valued at $126,194,000 after buying an additional 247,049 shares during the last quarter. Vanguard Group Inc. lifted its stake in Insight Enterprises by 6.4% in the third 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 during the last quarter. Finally, Capital Research Global Investors lifted its stake in Insight Enterprises by 43.6% in the fourth quarter. Capital Research Global Investors now owns 585,929 shares of the software maker's stock valued at $103,821,000 after buying an additional 177,943 shares during the last quarter.

Insight Enterprises Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.28 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $6.30 billion, a P/E ratio of 25.66, a PEG ratio of 1.26 and a beta of 1.50. The business has a 50 day simple moving average of $184.54 and a 200-day simple moving average of $174.35.

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.