HOUSTON - Insperity, Inc. (NYSE: NYSE:NSP), a provider of HR and business performance solutions, has announced the appointment of Phil Wilmington as a new independent director to its board. Wilmington, who recently retired as Vice Chairman of Workday (NASDAQ:WDAY), Inc., brings a wealth of experience from the HR services and software sectors to the role.
Wilmington's appointment as a Class I director includes his service on the Compensation Committee, with a term set to expire at the annual stockholders meeting in 2026. His career has spanned executive leadership positions at PeopleSoft, CEO of OutlookSoft, and President and COO of Tidemark Systems, Inc., contributing to his reputation for fostering growth and innovation in the industry.
"I am honored to serve in this important role and bring additional insights and guidance based on my experience at Workday and other high-growth companies," said Wilmington. "I look forward to working with my new board colleagues to bring continued growth and success to the businesses Insperity serves."
Paul J. Sarvadi, chairman and CEO of Insperity, expressed confidence that Wilmington's expertise, particularly his strategic partnership experience with Workday, will provide invaluable insight to advance Insperity's mission of serving America's small and medium-sized businesses.
Insperity, established in 1986, has been committed to helping businesses succeed, which in turn contributes to community prosperity. The company offers a comprehensive suite of HR solutions and has reported 2023 revenues of $6.5 billion. With over 90 locations across the United States, Insperity continues to impact numerous businesses and communities.
This expansion of the board reflects Insperity's ongoing strategy for growth through innovation and superior offerings. The information regarding Wilmington's appointment is based on a press release statement from Insperity, Inc.
InvestingPro Insights
As Insperity, Inc. (NYSE: NSP) welcomes Phil Wilmington to its board, the company's financial health and market performance remain a key interest for investors. With a market cap of approximately $3.88 billion USD, Insperity stands as a significant player in the HR and business performance solutions sector.
The company's commitment to innovation and growth is further underscored by its strong financial position, as highlighted by an InvestingPro Tip that notes Insperity holds more cash than debt on its balance sheet, providing a solid foundation for strategic initiatives and potential market maneuvers.
Another noteworthy InvestingPro Tip is Insperity's track record of maintaining dividend payments for 20 consecutive years, which could be particularly appealing to income-focused investors. This consistency in rewarding shareholders is complemented by a dividend yield of 2.21% as of the latest data, and a notable dividend growth of 9.62% over the last twelve months as of Q1 2024.
While Insperity's Price / Book multiple stands at a high 27.71, reflecting a premium valuation, this could be indicative of the market's confidence in the company's assets and future prospects. Moreover, analysts predict profitability for the current year, aligning with the company's profitable performance over the last twelve months. With these insights, investors can gauge the company's value proposition in the context of its industry and historical performance.
For those interested in a deeper dive into Insperity's financial metrics and additional strategic tips, there are more InvestingPro Tips available at https://www.investing.com/pro/NSP. To enhance your investing strategy, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where you can find a total of 5 additional tips to inform your investment decisions.
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