Insight Enterprises, Inc. (NASDAQ:NSIT) Expected to Announce Quarterly Sales of $2.62 Billion

Wall Street brokerages forecast that Insight Enterprises, Inc. (NASDAQ:NSITGet Rating) will announce sales of $2.62 billion for the current quarter, Zacks reports. Three analysts have issued estimates for Insight Enterprises’ earnings, with the highest sales estimate coming in at $2.65 billion and the lowest estimate coming in at $2.61 billion. Insight Enterprises posted sales of $2.23 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 17.5%. The firm is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Insight Enterprises will report full year sales of $10.58 billion for the current financial year, with estimates ranging from $10.54 billion to $10.65 billion. For the next fiscal year, analysts expect that the company will post sales of $11.17 billion, with estimates ranging from $11.02 billion to $11.46 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Insight Enterprises.

Insight Enterprises (NASDAQ:NSITGet Rating) last issued its earnings results on Thursday, May 5th. The software maker reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.21. Insight Enterprises had a net margin of 2.35% and a return on equity of 18.24%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same quarter in the previous year, the firm posted $1.30 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year.

A number of brokerages have issued reports on NSIT. Zacks Investment Research raised shares of Insight Enterprises from a “hold” rating to a “buy” rating and set a $114.00 target price on the stock in a report on Tuesday, May 10th. StockNews.com cut shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th.

In related news, CFO Glynis Bryan sold 5,000 shares of the company’s stock in a transaction on Monday, February 28th. The shares were sold at an average price of $103.75, for a total value of $518,750.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Holdings L.P. Valueact bought 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 20th. The stock was bought at an average price of $97.01 per share, with a total value of $3,880,400.00. Following the completion of the transaction, the director now directly owns 3,859,226 shares of the company’s stock, valued at approximately $374,383,514.26. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 325,185 shares of company stock worth $32,326,491. Insiders own 1.61% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Capital World Investors grew its position in Insight Enterprises by 19.4% in the first quarter. Capital World Investors now owns 487,525 shares of the software maker’s stock worth $52,321,000 after acquiring an additional 79,315 shares in the last quarter. Capital Research Global Investors boosted its position in Insight Enterprises by 173.7% during the first quarter. Capital Research Global Investors now owns 752,800 shares of the software maker’s stock valued at $80,790,000 after buying an additional 477,800 shares during the period. Jane Street Group LLC purchased a new stake in Insight Enterprises during the first quarter valued at about $580,000. Lido Advisors LLC purchased a new stake in Insight Enterprises during the first quarter valued at about $379,000. Finally, Point72 Hong Kong Ltd boosted its position in Insight Enterprises by 131.4% during the first quarter. Point72 Hong Kong Ltd now owns 1,796 shares of the software maker’s stock valued at $193,000 after buying an additional 1,020 shares during the period.

Shares of NSIT stock opened at $97.81 on Friday. The company’s fifty day simple moving average is $102.59 and its two-hundred day simple moving average is $101.77. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 1.26. Insight Enterprises has a 1 year low of $88.28 and a 1 year high of $111.02. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 1.02 and a beta of 1.64.

Insight Enterprises Company Profile (Get Rating)

IInsight Enterprises, Inc, together with its subsidiaries, provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. The company's solution portfolio includes cloud enablement, data and AI, DevOps, digital strategy, intelligent applications and edge, and IoT solutions, as well as transformation services.

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