Zacks: Analysts Expect Insight Enterprises, Inc. (NSIT) Will Post Quarterly Sales of $1.59 Billion
Analysts predict that Insight Enterprises, Inc. (NASDAQ:NSIT) will announce $1.59 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Insight Enterprises’ earnings, with the lowest sales estimate coming in at $1.58 billion and the highest estimate coming in at $1.59 billion. Insight Enterprises reported sales of $1.39 billion during the same quarter last year, which would suggest a positive year over year growth rate of 14.4%. The business is scheduled to report its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Insight Enterprises will report full year sales of $1.59 billion for the current financial year, with estimates ranging from $6.42 billion to $6.48 billion. For the next fiscal year, analysts expect that the firm will post sales of $6.68 billion per share, with estimates ranging from $6.62 billion to $6.73 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.19. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue was up 15.4% compared to the same quarter last year.
NSIT has been the subject of a number of recent research reports. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research report on Saturday, August 5th. BidaskClub cut Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $45.00 price objective (up from $42.00) on shares of Insight Enterprises in a research report on Thursday, August 3rd. Finally, B. Riley raised Insight Enterprises to a “buy” rating and set a $54.50 price objective for the company in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.50.
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Insight Enterprises (NASDAQ NSIT) traded down 0.38% during midday trading on Friday, hitting $38.86. The company had a trading volume of 28,961 shares. The firm has a 50-day moving average price of $40.75 and a 200-day moving average price of $41.81. Insight Enterprises has a 12 month low of $28.15 and a 12 month high of $53.19. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 14.44 and a beta of 1.63.
In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $41.90, for a total transaction of $209,500.00. Following the completion of the sale, the chief financial officer now directly owns 30,797 shares of the company’s stock, valued at approximately $1,290,394.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.38% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio raised its stake in shares of Insight Enterprises by 15.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 96,064 shares of the software maker’s stock worth $3,842,000 after buying an additional 12,723 shares in the last quarter. Piedmont Investment Advisors LLC raised its stake in shares of Insight Enterprises by 57.4% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 52,263 shares of the software maker’s stock worth $2,090,000 after buying an additional 19,065 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Insight Enterprises by 265.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,647 shares of the software maker’s stock worth $1,026,000 after buying an additional 18,634 shares in the last quarter. Mitra Capital LLC purchased a new position in shares of Insight Enterprises during the 2nd quarter worth approximately $2,055,000. Finally, State Street Corp raised its stake in shares of Insight Enterprises by 1.3% during the 2nd quarter. State Street Corp now owns 973,575 shares of the software maker’s stock worth $38,933,000 after buying an additional 12,925 shares in the last quarter. 97.04% of the stock is owned by institutional investors and hedge funds.
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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