$1.68 Billion in Sales Expected for Insight Enterprises, Inc. (NASDAQ:NSIT) This Quarter
Wall Street brokerages expect Insight Enterprises, Inc. (NASDAQ:NSIT) to post $1.68 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Insight Enterprises’ earnings. The highest sales estimate is $1.71 billion and the lowest is $1.64 billion. Insight Enterprises posted sales of $1.46 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.1%. The business is expected to announce its next quarterly earnings results on Wednesday, August 2nd.
On average, analysts expect that Insight Enterprises will report full-year sales of $1.68 billion for the current year, with estimates ranging from $6.38 billion to $6.49 billion. For the next financial year, analysts expect that the company will post sales of $6.63 billion per share, with estimates ranging from $6.56 billion to $6.69 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last announced its earnings results on Wednesday, May 3rd. The software maker reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.27. Insight Enterprises had a return on equity of 14.68% and a net margin of 1.58%. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same quarter last year, the firm earned $0.21 EPS. Insight Enterprises’s revenue for the quarter was up 26.4% compared to the same quarter last year.
Several brokerages have recently commented on NSIT. B. Riley reissued a “neutral” rating and issued a $44.00 price objective on shares of Insight Enterprises in a research note on Tuesday, May 2nd. Stifel Nicolaus increased their price objective on Insight Enterprises from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, May 4th. Zacks Investment Research downgraded Insight Enterprises from a “hold” rating to a “sell” rating in a research note on Thursday, March 30th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Insight Enterprises in a research note on Thursday, May 4th. Finally, BidaskClub downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $47.67.
Insight Enterprises (NSIT) traded up 1.54% on Friday, hitting $40.19. The company’s stock had a trading volume of 128,183 shares. The firm has a 50 day moving average of $42.14 and a 200-day moving average of $41.47. The stock has a market cap of $1.44 billion, a PE ratio of 15.86 and a beta of 1.64. Insight Enterprises has a 12 month low of $24.23 and a 12 month high of $53.19.
In other Insight Enterprises news, CFO Glynis Bryan sold 3,946 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $42.00, for a total value of $165,732.00. Following the completion of the sale, the chief financial officer now directly owns 39,643 shares of the company’s stock, valued at $1,665,006. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.23% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in Insight Enterprises by 8.3% in the fourth quarter. State Street Corp now owns 962,152 shares of the software maker’s stock worth $38,906,000 after buying an additional 73,705 shares during the last quarter. Allianz Asset Management AG raised its position in Insight Enterprises by 20.1% in the fourth quarter. Allianz Asset Management AG now owns 74,323 shares of the software maker’s stock worth $3,006,000 after buying an additional 12,450 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Insight Enterprises by 5.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 25,593 shares of the software maker’s stock worth $1,035,000 after buying an additional 1,213 shares during the last quarter. Guggenheim Capital LLC raised its position in Insight Enterprises by 15.7% in the fourth quarter. Guggenheim Capital LLC now owns 92,187 shares of the software maker’s stock worth $3,728,000 after buying an additional 12,493 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Insight Enterprises by 275.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 67,675 shares of the software maker’s stock worth $2,737,000 after buying an additional 49,630 shares during the last quarter. 97.85% of the stock is owned by institutional investors and hedge funds.
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About Insight Enterprises
Insight Enterprises, Inc is engaged in providing information technology (IT) hardware, software, and cloud and service solutions to business, government, healthcare and educational clients. The Company operates through three segments: North America, EMEA and APAC. North America comprises the United States and Canada; EMEA comprises Europe, the Middle East and Africa, and APAC comprises Asia Pacific.
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