Wall Street brokerages expect Insight Enterprises, Inc. (NASDAQ:NSIT) to post $1.53 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Insight Enterprises’ earnings. The highest sales estimate is $1.54 billion and the lowest is $1.53 billion. Insight Enterprises posted sales of $1.48 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.4%. The firm is expected to report its next earnings results on Wednesday, May 2nd.
On average, analysts expect that Insight Enterprises will report full year sales of $6.85 billion for the current financial year, with estimates ranging from $6.84 billion to $6.86 billion. For the next financial year, analysts anticipate that the business will post sales of $7.08 billion per share, with estimates ranging from $7.00 billion to $7.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Insight Enterprises.
Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Wednesday, February 14th. The software maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.79 by $0.02. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.71 billion. Insight Enterprises had a return on equity of 14.73% and a net margin of 1.35%. The firm’s revenue was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share.
Several research analysts have commented on NSIT shares. Zacks Investment Research raised Insight Enterprises from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research report on Tuesday, January 9th. BidaskClub raised Insight Enterprises from a “strong sell” rating to a “sell” rating in a research report on Friday, February 16th. ValuEngine lowered Insight Enterprises from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Finally, B. Riley reaffirmed a “buy” rating and set a $53.00 price target (down previously from $56.00) on shares of Insight Enterprises in a research report on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $46.00.
Several large investors have recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new position in shares of Insight Enterprises in the fourth quarter valued at approximately $673,000. Vident Investment Advisory LLC grew its holdings in Insight Enterprises by 6.5% during the fourth quarter. Vident Investment Advisory LLC now owns 44,514 shares of the software maker’s stock worth $1,704,000 after acquiring an additional 2,717 shares during the period. Clark Capital Management Group Inc. grew its holdings in Insight Enterprises by 13.3% during the fourth quarter. Clark Capital Management Group Inc. now owns 95,429 shares of the software maker’s stock worth $3,654,000 after acquiring an additional 11,183 shares during the period. Millennium Management LLC grew its holdings in Insight Enterprises by 19.7% during the fourth quarter. Millennium Management LLC now owns 223,247 shares of the software maker’s stock worth $8,548,000 after acquiring an additional 36,696 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. grew its holdings in Insight Enterprises by 46.0% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 135,174 shares of the software maker’s stock worth $5,174,000 after acquiring an additional 42,600 shares during the period. 98.95% of the stock is currently owned by institutional investors and hedge funds.
NSIT traded down $0.28 during trading on Monday, hitting $34.58. 318,731 shares of the stock were exchanged, compared to its average volume of 213,884. The firm has a market cap of $1,257.36, a price-to-earnings ratio of 10.67 and a beta of 1.36. Insight Enterprises has a 1-year low of $32.10 and a 1-year high of $53.19. The company has a quick ratio of 1.38, a current ratio of 1.54 and a debt-to-equity ratio of 0.35.
Insight Enterprises declared that its board has initiated a share buyback plan on Wednesday, February 14th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the software maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
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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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