Zacks: Analysts Anticipate Insight Enterprises, Inc. (NSIT) Will Post Quarterly Sales of $1.59 Billion
Brokerages predict that Insight Enterprises, Inc. (NASDAQ:NSIT) will report sales of $1.59 billion for the current quarter, according to Zacks Investment Research. Three analysts have provided 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 would suggest a positive year-over-year growth rate of 14.4%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, November 7th.
According to Zacks, 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 fiscal year, analysts anticipate that the firm 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 sell-side research analysts that follow Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last issued its earnings results on Wednesday, August 2nd. The software maker reported $1.14 EPS for the quarter, topping the consensus estimate of $0.95 by $0.19. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.68 billion. Insight Enterprises had a return on equity of 14.93% and a net margin of 1.61%. The business’s revenue was up 15.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.97 EPS.
Several research firms have commented on NSIT. B. Riley reaffirmed a “neutral” rating and issued a $48.00 price target on shares of Insight Enterprises in a report on Tuesday, August 1st. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Saturday, August 5th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $45.00 price target (up previously from $42.00) on shares of Insight Enterprises in a report on Thursday, August 3rd. Finally, BidaskClub cut Insight Enterprises from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Insight Enterprises presently has a consensus rating of “Hold” and a consensus price target of $50.50.
In other news, CFO Glynis Bryan sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $41.90, for a total value of $209,500.00. Following the sale, the chief financial officer now directly owns 30,797 shares in the company, valued at approximately $1,290,394.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.38% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Insight Enterprises by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 2,567 shares of the software maker’s stock valued at $103,000 after purchasing an additional 385 shares during the period. Eqis Capital Management Inc. bought a new stake in shares of Insight Enterprises in the 3rd quarter valued at approximately $211,000. Bayesian Capital Management LP grew its stake in shares of Insight Enterprises by 21.6% in the 2nd quarter. Bayesian Capital Management LP now owns 6,423 shares of the software maker’s stock valued at $257,000 after purchasing an additional 1,143 shares during the period. Stevens Capital Management LP bought a new stake in shares of Insight Enterprises in the 2nd quarter valued at approximately $273,000. Finally, State of Alaska Department of Revenue grew its stake in shares of Insight Enterprises by 80.0% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,057 shares of the software maker’s stock valued at $282,000 after purchasing an additional 3,137 shares during the period. Institutional investors own 96.07% of the company’s stock.
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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