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Insperity (NSP)

Insperity®, a trusted advisor to America's best businesses for more than 34 years, provides an array of human resources and business solutions designed to help improve business performance. Offering the most comprehensive suite of products and services available in the marketplace, Insperity delivers administrative relief, better benefits, reduced liabilities and a systematic way to improve productivity through its premier Workforce Optimization® solution. Additional company offerings include Traditional Payroll and Human Capital Management, Time and Attendance, Performance Management, Organizational Planning, Recruiting Services, Employment Screening, Retirement Services and Insurance Services. With 2020 revenues of $4.3 billion, Insperity supports more than 100,000 businesses with over 2 million employees nationwide.

Company profile

Ticker
NSP
Exchange
CEO
Paul Sarvadi
Employees
Incorporated
Location
Fiscal year end
Former names
ADMINISTAFF INC \DE\
SEC CIK
Subsidiaries
Insperity Business Services, L.P. • Insperity Retirement Services, L.P. • Insperity Services, L.P. • Insperity Support Services, L.P. • Insperity PEO Services, L.P. ...
IRS number
760479645

NSP stock data

Calendar

1 Aug 22
13 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 730.28M 730.28M 730.28M 730.28M 730.28M 730.28M
Cash burn (monthly) 28.85M (no burn) (no burn) (no burn) 12.02M (no burn)
Cash used (since last report) 42.04M n/a n/a n/a 17.52M n/a
Cash remaining 688.23M n/a n/a n/a 712.76M n/a
Runway (months of cash) 23.9 n/a n/a n/a 59.3 n/a

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
10 Aug 22 Paul J Sarvadi Common Stock Sell Dispose S No No 111.08 992 110.19K 578,421
10 Aug 22 Paul J Sarvadi Common Stock Sell Dispose S No No 110.49 17,114 1.89M 579,413
10 Aug 22 Arthur A Arizpe Common Stock Sell Dispose S No No 110 5,000 550K 71,668
4 Aug 22 Morphy John M Common Stock Sell Dispose S No No 109.19 1,750 191.08K 9,041
4 Aug 22 Paul J Sarvadi Common Stock Sell Dispose S No No 110.04 140 15.41K 596,527
3 Aug 22 Paul J Sarvadi Common Stock Sell Dispose S No No 111.09 5,800 644.32K 596,667
3 Aug 22 Paul J Sarvadi Common Stock Sell Dispose S No No 110.21 18,118 2M 602,467
9 Jun 22 Paul J Sarvadi Common Stock Gift Dispose G Yes No 0 12,000 0 967,612
2 Jun 22 Daniel D Herink Common Stock Sell Dispose S No No 100 2,766 276.6K 32,069
1 Jun 22 Daniel D Herink Common Stock Sell Dispose S No No 100 2,234 223.4K 34,835
88.0% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 265 276 -4.0%
Opened positions 35 48 -27.1%
Closed positions 46 39 +17.9%
Increased positions 112 87 +28.7%
Reduced positions 80 97 -17.5%
13F shares Current Prev Q Change
Total value 3.36B 3.85B -12.7%
Total shares 33.45M 32.6M +2.6%
Total puts 48.9K 15K +226.0%
Total calls 32.3K 18.6K +73.7%
Total put/call ratio 1.5 0.8 +87.7%
Largest owners Shares Value Change
Mawer Investment Management 4.92M $494.14M +1.3%
BLK Blackrock 4.82M $484.25M -3.3%
Vanguard 3.63M $364.73M -1.1%
FIL 1.53M $153.93M -0.4%
Alliancebernstein 1.14M $114.59M +13.9%
FMR 1.13M $113.27M -22.7%
STT State Street 1.12M $112.12M +1.9%
Charles Schwab Investment Management 724.1K $72.71M +129.9%
Anchor Capital Advisors 676.77K $67.96M NEW
Geode Capital Management 635.64K $63.83M +6.0%
Largest transactions Shares Bought/sold Change
Anchor Capital Advisors 676.77K +676.77K NEW
MN Manning & Napier 244.29K -470.52K -65.8%
Lord, Abbett & Co. 0 -452.45K EXIT
Charles Schwab Investment Management 724.1K +409.17K +129.9%
Copeland Capital Management 508.03K +406.23K +399.0%
Norges Bank 0 -344.24K EXIT
FMR 1.13M -331.43K -22.7%
Lakewood Capital Management 518.06K +215K +70.9%
BLK Blackrock 4.82M -165.8K -3.3%
Aqr Capital Management 203.35K +146.06K +255.0%

Financial report summary

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Risks
  • Adverse economic conditions could negatively affect our industry, business, and results of operations.
  • The economic impact of the COVID-19 pandemic has adversely affected our business. The current pandemic may have, and a future outbreak of other highly infectious or contagious diseases could have, a material and adverse impact on our business, results of operations, financial condition and cash flows.
  • Labor shortages and increasing competition for highly skilled workers could have a material adverse effect on our business, financial condition or results of operations.
  • Inflation may reduce our profitability.
  • Geographic market concentration makes our results of operations vulnerable to regional economic factors.
  • We assume liability for WSEE payroll, payroll taxes, benefits costs and workers’ compensation costs and are responsible for their payment regardless of the amount billed to or paid by our clients.
  • Increases in health insurance costs or our inability to secure replacement health insurance coverage on competitive terms could have a material adverse effect on our business, financial condition or results of operations.
  • Health care reform could affect our health insurance plan and could lead to a significant disruption in our business.
  • Increases in workers’ compensation costs or inability to secure replacement coverage on competitive terms could lead to a significant disruption to our business.
  • Our ability to adjust and collect service fees for increases in unemployment tax rates may be limited.
  • Many of our contracts for our PEO HR Outsourcing solutions may be canceled on short notice. Our inability to renew client contracts or attract new clients could materially and adversely affect our financial conditions or results of operations.
  • Our loss of insurance coverage, the failure of our insurance carriers or increased insurance costs or deductibles could have a material adverse effect on us.
  • A determination that a client is liable for employment taxes not paid by a PEO may discourage clients from contracting with us in the future.
  • New and higher federal, state and local taxes could have a material adverse impact on our financial condition and results of operations.
  • We may be subject to liabilities for client and employee actions.
  • Changes in federal, state and local regulation or our inability to obtain licenses under new regulatory frameworks could have a material adverse effect on our results of operations or financial condition.
  • Competition and other developments in the HR services industry may impact our growth and/or profitability.
  • Evolving regulations, market trends and client expectations require us to constantly enhance and expand our service and technology offerings.
  • Disruptions of our information technology systems could damage our reputation and materially disrupt our business operations.
  • We could be subject to reduced revenues, increased costs, liability claims, or harm to our competitive position as a result of data theft, cyberattacks or other security vulnerabilities.
  • Failure to comply with privacy, data protection and cybersecurity laws and regulations could have a material adverse effect on our reputation, results of operations or financial condition, or have other adverse consequences.
  • The failure of third-party providers, such as financial institutions, data centers or cloud-service providers, could have a material adverse effect on us.
  • Failure to integrate or realize the expected return on our acquisitions and investments could have a material adverse impact on our financial condition or results of operations.
Management Discussion
  • •Average number of WSEEs paid per month increased 19.4%
  • •Net income and diluted earnings per share (“diluted EPS”) increased 33.6% and 33.8% to $33.6 million and $0.87, respectively
  • •Adjusted EPS increased 27.5% to $1.16

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
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New words: SOFR, spread, type
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