Wall Street analysts expect that Insight Enterprises, Inc. (NASDAQ:NSIT) will report $1.68 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Insight Enterprises’ earnings, with the highest sales estimate coming in at $1.71 billion and the lowest estimate coming in at $1.64 billion. Insight Enterprises reported sales of $1.46 billion in the same quarter last year, which indicates a positive year over year growth rate of 15.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that Insight Enterprises will report full-year sales of $1.68 billion for the current fiscal year, with estimates ranging from $6.38 billion to $6.49 billion. For the next financial year, analysts forecast that the firm will report sales of $6.63 billion per share, with estimates ranging from $6.56 billion to $6.69 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow 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, topping analysts’ consensus estimates of $0.29 by $0.27. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.37 billion. Insight Enterprises had a net margin of 1.58% and a return on equity of 14.68%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS.
NSIT has been the subject of several research analyst reports. Zacks Investment Research raised Insight Enterprises from a “sell” rating to a “hold” rating in a research note on Wednesday, April 5th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of Insight Enterprises in a research note on Thursday, May 4th. Stifel Nicolaus boosted their target price on Insight Enterprises from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Thursday, May 4th. BidaskClub downgraded Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, B. Riley reissued a “neutral” rating and set a $48.00 target price on shares of Insight Enterprises in a research note on Sunday, May 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. Insight Enterprises currently has an average rating of “Hold” and an average target price of $47.67.
In other Insight Enterprises news, CFO Glynis Bryan sold 3,946 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $42.00, for a total transaction of $165,732.00. Following the completion of the transaction, the chief financial officer now owns 39,643 shares of the company’s stock, valued at $1,665,006. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.23% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NSIT. BlackRock Inc. increased its position in shares of Insight Enterprises by 32,650.5% in the first quarter. BlackRock Inc. now owns 4,523,829 shares of the software maker’s stock valued at $185,884,000 after buying an additional 4,510,016 shares during the last quarter. Norges Bank acquired a new position in shares of Insight Enterprises during the fourth quarter valued at approximately $18,477,000. Russell Investments Group Ltd. acquired a new position in shares of Insight Enterprises during the fourth quarter valued at approximately $8,752,000. Eagle Asset Management Inc. acquired a new position in shares of Insight Enterprises during the first quarter valued at approximately $7,935,000. Finally, Federated Investors Inc. PA increased its position in shares of Insight Enterprises by 313.2% in the fourth quarter. Federated Investors Inc. PA now owns 243,663 shares of the software maker’s stock valued at $9,854,000 after buying an additional 184,693 shares during the last quarter. 97.85% of the stock is owned by hedge funds and other institutional investors.
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Shares of Insight Enterprises (NASDAQ:NSIT) traded down 1.58% during midday trading on Thursday, hitting $41.64. 338,388 shares of the company were exchanged. Insight Enterprises has a one year low of $24.23 and a one year high of $53.19. The company has a 50-day moving average of $42.96 and a 200 day moving average of $41.12. The company has a market capitalization of $1.49 billion, a P/E ratio of 16.43 and a beta of 1.67.
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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