Insight Enterprises (NASDAQ:NSIT) Issues FY22 Earnings Guidance

Insight Enterprises (NASDAQ:NSITGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided EPS guidance of $8.55-8.75 for the period, compared to the consensus EPS estimate of $8.03. Insight Enterprises also updated its FY 2022 guidance to $8.55-$8.75 EPS.

Insight Enterprises Stock Performance

Shares of NASDAQ NSIT traded down $2.05 during mid-day trading on Friday, reaching $92.51. 219,499 shares of the company’s stock were exchanged, compared to its average volume of 204,573. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 12.94, a price-to-earnings-growth ratio of 0.98 and a beta of 1.60. Insight Enterprises has a 52 week low of $82.50 and a 52 week high of $111.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.48 and a quick ratio of 1.26. The firm has a 50-day moving average price of $91.08 and a two-hundred day moving average price of $97.28.

Insight Enterprises (NASDAQ:NSITGet Rating) last released its earnings results on Thursday, August 4th. The software maker reported $2.78 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.76. Insight Enterprises had a return on equity of 19.60% and a net margin of 2.53%. The company had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the previous year, the business posted $1.91 EPS. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year. Analysts predict that Insight Enterprises will post 8.05 EPS for the current year.

Wall Street Analyst Weigh In

NSIT has been the topic of a number of research reports. StockNews.com cut Insight Enterprises from a buy rating to a hold rating in a research note on Wednesday, May 11th. JPMorgan Chase & Co. assumed coverage on Insight Enterprises in a report on Thursday, July 14th. They set a neutral rating and a $98.00 target price for the company.

Insider Transactions at Insight Enterprises

In other Insight Enterprises news, Director Holdings L.P. Valueact acquired 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were bought at an average cost of $99.07 per share, with a total value of $3,962,800.00. Following the completion of the transaction, the director now directly owns 4,099,226 shares of the company’s stock, valued at approximately $406,110,319.82. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Holdings L.P. Valueact bought 40,000 shares of the stock in a transaction on Friday, May 27th. The shares were bought at an average price of $99.07 per share, with a total value of $3,962,800.00. Following the completion of the acquisition, the director now owns 4,099,226 shares in the company, valued at $406,110,319.82. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samuel C. Cowley sold 5,343 shares of the stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $100.68, for a total value of $537,933.24. Following the completion of the transaction, the insider now directly owns 25,000 shares in the company, valued at approximately $2,517,000. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 298,883 shares of company stock valued at $29,223,189. Insiders own 1.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Insight Enterprises by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 3,897,063 shares of the software maker’s stock valued at $418,233,000 after acquiring an additional 43,008 shares during the period. Capital Research Global Investors boosted its position in Insight Enterprises by 173.7% during the first quarter. Capital Research Global Investors now owns 752,800 shares of the software maker’s stock worth $80,790,000 after purchasing an additional 477,800 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Insight Enterprises by 8.7% during the first quarter. Invesco Ltd. now owns 490,643 shares of the software maker’s stock valued at $52,657,000 after acquiring an additional 39,434 shares during the last quarter. Capital World Investors increased its holdings in shares of Insight Enterprises by 19.4% in the first quarter. Capital World Investors now owns 487,525 shares of the software maker’s stock valued at $52,321,000 after purchasing an additional 79,315 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Insight Enterprises by 379.8% during the first quarter. Goldman Sachs Group Inc. now owns 409,417 shares of the software maker’s stock worth $43,939,000 after acquiring an additional 324,079 shares during the last quarter.

Insight Enterprises Company Profile

(Get Rating)

IInsight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services.

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