Insight Enterprises (NASDAQ:NSIT) Releases FY22 Earnings Guidance

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NSIT. JPMorgan Chase & Co. started coverage on shares of Insight Enterprises in a report on Thursday, July 14th. They set a neutral rating and a $98.00 target price for the company. StockNews.com cut shares of Insight Enterprises from a buy rating to a hold rating in a report on Wednesday, May 11th.

Insight Enterprises Price Performance

Shares of NASDAQ NSIT traded down $2.05 during trading on Friday, hitting $92.51. The company had a trading volume of 219,499 shares, compared to its average volume of 204,573. The stock has a fifty day simple moving average of $91.08 and a two-hundred day simple moving average of $97.28. Insight Enterprises has a fifty-two week low of $82.50 and a fifty-two week high of $111.02. 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. The company has a quick ratio of 1.26, a current ratio of 1.48 and a debt-to-equity ratio of 0.45.

Insight Enterprises (NASDAQ:NSITGet Rating) last posted its quarterly earnings results on Thursday, August 4th. The software maker reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.76. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.61 billion. Insight Enterprises had a net margin of 2.53% and a return on equity of 19.60%. Insight Enterprises’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.91 earnings per share. On average, research analysts expect that Insight Enterprises will post 8.05 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Investors Weigh In On Insight Enterprises

Large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new stake in shares of Insight Enterprises in the 1st quarter valued at approximately $107,000. Federated Hermes Inc. increased its position in shares of Insight Enterprises by 13.4% in the 1st quarter. Federated Hermes Inc. now owns 1,074 shares of the software maker’s stock valued at $115,000 after purchasing an additional 127 shares during the last quarter. Covestor Ltd increased its position in shares of Insight Enterprises by 5,213.3% in the 1st quarter. Covestor Ltd now owns 1,594 shares of the software maker’s stock valued at $171,000 after purchasing an additional 1,564 shares during the last quarter. Point72 Hong Kong Ltd increased its position in shares of Insight Enterprises by 131.4% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,796 shares of the software maker’s stock valued at $193,000 after purchasing an additional 1,020 shares during the last quarter. Finally, Eaton Vance Management boosted its holdings in shares of Insight Enterprises by 13.5% in the 1st quarter. Eaton Vance Management now owns 1,910 shares of the software maker’s stock valued at $204,000 after buying an additional 227 shares in the last quarter.

About Insight Enterprises

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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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