Insight Enterprises, Inc. (NSIT) Expected to Post Quarterly Sales of $1.59 Billion
Analysts expect that Insight Enterprises, Inc. (NASDAQ:NSIT) will post sales of $1.59 billion for the current quarter, Zacks reports. Three analysts have made estimates for Insight Enterprises’ earnings, with the highest sales estimate coming in at $1.59 billion and the lowest estimate coming in at $1.58 billion. Insight Enterprises posted sales of $1.39 billion during the same quarter last year, which suggests a positive year over year growth rate of 14.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 26th.
On average, analysts expect that Insight Enterprises will report full-year sales of $1.59 billion for the current financial year, with estimates ranging from $6.38 billion to $6.48 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $6.66 billion per share, with estimates ranging from $6.56 billion to $6.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.19. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.68 billion. During the same period in the previous year, the business earned $0.97 EPS. The company’s revenue was up 15.4% compared to the same quarter last year.
NSIT has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Insight Enterprises from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Insight Enterprises in a report on Thursday, May 4th. Stifel Nicolaus increased their target price on shares of Insight Enterprises from $36.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, May 4th. Finally, B. Riley upgraded shares of Insight Enterprises to a “buy” rating and set a $54.50 target price for the company in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.50.
Shares of Insight Enterprises (NASDAQ NSIT) opened at 39.02 on Friday. The firm has a 50-day moving average of $41.39 and a 200 day moving average of $42.00. Insight Enterprises has a 52 week low of $28.15 and a 52 week high of $53.19. The firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of 14.49 and a beta of 1.63.
In other news, CFO Glynis Bryan sold 3,946 shares of the stock in a transaction dated Thursday, May 25th. The shares were 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 owns 39,643 shares in the company, valued at $1,665,006. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.23% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Gotham Asset Management LLC purchased a new stake in shares of Insight Enterprises during the first quarter valued at approximately $1,562,000. Vanguard Group Inc. increased its stake in Insight Enterprises by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,242,716 shares of the software maker’s stock worth $133,243,000 after buying an additional 144,077 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in Insight Enterprises by 172.4% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 84,174 shares of the software maker’s stock worth $3,457,000 after buying an additional 53,278 shares during the period. First Midwest Bank Trust Division increased its stake in Insight Enterprises by 3.5% in the first quarter. First Midwest Bank Trust Division now owns 12,645 shares of the software maker’s stock worth $520,000 after buying an additional 433 shares during the period. Finally, Vident Investment Advisory LLC bought a new stake in Insight Enterprises during the first quarter worth about $1,903,000. Institutional investors own 98.38% of the company’s stock.
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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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