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    Insight Enterprises Inc (NSIT)

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    Business Description

    Insight Enterprises, Inc. (NSIT) is a Fortune 500-ranked solutions integrator that specializes in helping businesses accelerate their digital transformation and maximize the value of technology. The company offers a wide range of IT solutions, including hardware, software, and services, with a strong emphasis on cloud solutions and digital modernization. Operating across North America, EMEA, and APAC, Insight leverages its global scale, local expertise, and e-commerce capabilities to deliver tailored technology solutions to its clients.

    1. Hardware - Provides IT hardware solutions, including devices, networking equipment, and other physical technology products, to support business infrastructure and operations.
    2. Software - Offers software solutions, including licensing, cloud-based applications, and enterprise software, to enable businesses to optimize their IT environments.
    3. Services - Delivers a range of IT services, including consulting, implementation, and managed services, to help businesses achieve their digital transformation goals.

    Key Metrics

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    Executive Team

    NamePositionStart DateShort Bio
    Joyce A. MullenPresident and Chief Executive OfficerJanuary 1, 2022Joyce Mullen joined Insight in October 2020 as President of the North America Region and became CEO in 2022. She spent 21 years at Dell Technologies in various roles.
    Glynis A. BryanExecutive Vice PresidentJanuary 1, 2025Glynis Bryan joined Insight as CFO in December 2007 and transitioned to EVP in 2025. She previously held CFO roles at Swift Transportation, APL Logistics, and Ryder System.
    James MorgadoChief Financial OfficerJanuary 1, 2025James Morgado joined Insight in January 2022 as SVP and CFO for North America. He previously held finance leadership roles at Synopsys and Juniper Networks.
    Dee BurgerPresident, Insight North AmericaMay 2022Dee Burger joined Insight in 2022 after 29 years at Capgemini, where he held leadership roles in M&A, digital/cloud solutions, and consulting.
    Adrian GregoryPresident, EMEAJanuary 2, 2023Adrian Gregory joined Insight in 2023. He previously served as CEO for North Europe and APAC at Atos and held leadership roles at Hewlett-Packard.
    Samuel C. CowleySVP, General Counsel and SecretaryJune 2016Samuel Cowley joined Insight in 2016. He previously held General Counsel roles at Prestige Brands Holdings and Matrixx Initiatives, and practiced law at Snell & Wilmer.
    Rachael A. CrumpChief Accounting OfficerSeptember 2023Rachael Crump joined Insight in December 2016 as VP of Finance and became CAO in 2023. She is a CPA and previously held controller roles at Amkor Technology and other companies.
    Rob GreenChief Digital OfficerDecember 2023Rob Green joined Insight in August 2021 as SVP, eCommerce, and became CDO in 2023. He previously worked at Amazon and Oracle in various leadership roles.
    Jennifer VasinChief Human Resources OfficerFebruary 2022Jennifer Vasin joined Insight in 2002 through its acquisition of Calence LLC. She held various HR leadership roles before becoming CHRO in 2022.

    Questions to Ask Management

    1. The delayed hardware recovery has significantly impacted your performance, particularly in North America with both devices and infrastructure falling short of expectations in large enterprise and corporate client segments. Can you explain why this downturn was not anticipated more accurately, and what measures are being taken to improve forecasting and mitigate future risks?
    2. The acquisition of SADA appears to be underperforming expectations, especially regarding enterprise resale growth. With the pivot to focus on corporate and mid-market customers, do you still believe the acquisition will deliver the expected growth, and how are you addressing the challenges associated with this shift?
    3. Your total debt has increased substantially to $1.1 billion from $673 million a year ago due to acquisitions and share buybacks, while adjusted diluted earnings per share have declined. How do you plan to manage this increased debt load while ensuring shareholder value, and are there concerns about the sustainability of your capital allocation strategy?
    4. Given the impact of partner consolidation on your on-prem software revenue, notably the decline in EMEA software sales, how are you adjusting your strategy to navigate these changes in partner programs, and what impact do you foresee on your software business moving forward?
    5. With significant changes in strategic priorities from key partners like Google and Microsoft affecting your cloud and software businesses, how are you aligning your strategy to adapt to these shifts, and what risks do you perceive if these partnerships evolve in ways that are unfavorable to your business?

    Share Repurchase Program

    Program DetailsProgram 1Program 2
    Approval DateMay 18, 2023 September 11, 2024
    End Date/DurationSubstantially exhausted by September 30, 2024 Not specified
    Total Additional Amount$300,000,000 $300,000,000
    Remaining Authorization Amount$0 (fully utilized) $300,000,476
    DetailsIncluded $100M from prior authorizations Offset dilution from warrants; shares to be retired