Insight Enterprises, Inc. (NSIT) Expected to Announce Quarterly Sales of $1.59 Billion
Equities research analysts expect that Insight Enterprises, Inc. (NASDAQ:NSIT) will announce $1.59 billion in sales for the current fiscal quarter, Zacks reports. Three analysts have made 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 in the same quarter last year, which indicates a positive year-over-year growth rate of 14.4%. The company is expected to issue its next earnings results on Thursday, October 26th.
On average, analysts expect that Insight Enterprises will report full year sales of $1.59 billion for the current fiscal year, with estimates ranging from $6.42 billion to $6.48 billion. For the next year, analysts forecast that the company will report sales of $6.68 billion per share, with estimates ranging from $6.62 billion to $6.73 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow 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 for the quarter, beating analysts’ consensus estimates of $0.95 by $0.19. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Insight Enterprises had a net margin of 1.61% and a return on equity of 14.93%. Insight Enterprises’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share.
Several equities analysts recently commented on NSIT shares. BidaskClub downgraded shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd. Zacks Investment Research downgraded shares of Insight Enterprises from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Stifel Nicolaus reissued a “hold” rating and issued a $45.00 price objective (up previously from $42.00) on shares of Insight Enterprises in a research note on Thursday, August 3rd. Finally, B. Riley raised shares of Insight Enterprises from a “neutral” rating to a “buy” rating and increased their price objective for the company from $48.00 to $54.50 in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.50.
In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $41.90, for a total value of $209,500.00. Following the completion of the transaction, the chief financial officer now directly owns 30,797 shares in the company, valued at approximately $1,290,394.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.38% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its position in Insight Enterprises by 15.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 96,064 shares of the software maker’s stock valued at $3,842,000 after acquiring an additional 12,723 shares during the period. Piedmont Investment Advisors LLC increased its position in Insight Enterprises by 57.4% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 52,263 shares of the software maker’s stock valued at $2,090,000 after acquiring an additional 19,065 shares during the period. Cubist Systematic Strategies LLC increased its position in Insight Enterprises by 265.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,647 shares of the software maker’s stock valued at $1,026,000 after acquiring an additional 18,634 shares during the period. Mitra Capital LLC acquired a new position in Insight Enterprises in the 2nd quarter valued at approximately $2,055,000. Finally, State Street Corp increased its position in Insight Enterprises by 1.3% in the 2nd quarter. State Street Corp now owns 973,575 shares of the software maker’s stock valued at $38,933,000 after acquiring an additional 12,925 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Shares of Insight Enterprises (NASDAQ:NSIT) opened at 43.56 on Tuesday. Insight Enterprises has a one year low of $28.15 and a one year high of $53.19. The company has a 50 day moving average of $40.62 and a 200-day moving average of $41.62. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 16.18 and a beta of 1.63.
Insight Enterprises Company Profile
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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