Q2 2023 EPS Estimates for Insight Enterprises, Inc. Increased by Analyst (NASDAQ:NSIT)

Insight Enterprises, Inc. (NASDAQ:NSIT – Get Rating) – Equities researchers at Barrington Research boosted their Q2 2023 earnings estimates for shares of Insight Enterprises in a research report issued on Monday, May 8th. Barrington Research analyst V. Colicchio now expects that the software maker will earn $2.64 per share for the quarter, up from their prior estimate of $2.56. The consensus estimate for Insight Enterprises’ current full-year earnings is $9.88 per share. Barrington Research also issued estimates for Insight Enterprises’ Q3 2023 earnings at $2.69 EPS, Q4 2023 earnings at $2.79 EPS, FY2023 earnings at $9.90 EPS and FY2024 earnings at $11.08 EPS.

NSIT has been the topic of several other research reports. Sidoti reiterated a “neutral” rating and issued a $127.00 price target on shares of Insight Enterprises in a research note on Monday, February 6th. Stifel Nicolaus decreased their price target on shares of Insight Enterprises from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, April 21st. Finally, StockNews.com initiated coverage on shares of Insight Enterprises in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $127.75.

Insight Enterprises Stock Performance

Shares of NSIT stock opened at $125.90 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.30 and a quick ratio of 1.21. The company’s fifty day moving average price is $133.86 and its two-hundred day moving average price is $116.39. The firm has a market capitalization of $4.19 billion, a P/E ratio of 16.85, a P/E/G ratio of 1.05 and a beta of 1.56. Insight Enterprises has a 12 month low of $81.11 and a 12 month high of $144.84.

Insight Enterprises (NASDAQ:NSIT – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The software maker reported $1.78 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.06). The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.57 billion. Insight Enterprises had a return on equity of 19.77% and a net margin of 2.71%. The business’s revenue was down 12.3% on a year-over-year basis. During the same period last year, the firm posted $1.81 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NSIT. Capital Research Global Investors boosted its position in Insight Enterprises by 173.7% during the 1st quarter. Capital Research Global Investors now owns 752,800 shares of the software maker’s stock valued at $80,790,000 after purchasing an additional 477,800 shares during the period. Morgan Stanley boosted its position in Insight Enterprises by 141.7% during the 4th quarter. Morgan Stanley now owns 811,951 shares of the software maker’s stock valued at $81,414,000 after purchasing an additional 476,084 shares during the period. Goldman Sachs Group Inc. boosted its position in Insight Enterprises by 379.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 409,417 shares of the software maker’s stock valued at $43,939,000 after purchasing an additional 324,079 shares during the period. Norges Bank acquired a new position in Insight Enterprises during the 4th quarter valued at approximately $30,493,000. Finally, Fiduciary Management Inc. WI boosted its position in Insight Enterprises by 15.6% during the 3rd quarter. Fiduciary Management Inc. WI now owns 1,155,706 shares of the software maker’s stock worth $95,242,000 after acquiring an additional 156,262 shares during the period.

Insider Buying and Selling at Insight Enterprises

In other Insight Enterprises news, Director Holdings L.P. Valueact purchased 400 shares of the firm’s stock in a transaction dated Tuesday, February 21st. The stock was acquired at an average cost of $129.95 per share, with a total value of $51,980.00. Following the acquisition, the director now owns 4,511,116 shares of the company’s stock, valued at approximately $586,219,524.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired a total of 60,663 shares of company stock worth $7,759,175 over the last 90 days. Insiders own 1.61% of the company’s stock.

Insight Enterprises Company Profile

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Insight Enterprises, Inc is a global provider of information technology, services, and cloud solutions to worldwide enterprises, governments, schools, and healthcare organizations. It helps businesses define, architect, implement, and manage Intelligent Technology Solutions in North America, Europe, the Middle East, Africa, and Asia-Pacific.