Barrington Research Brokers Cut Earnings Estimates for NSIT

Insight Enterprises, Inc. (NASDAQ:NSIT) – Barrington Research reduced their FY2024 earnings per share estimates for Insight Enterprises in a research note issued on Monday, November 4th. Barrington Research analyst V. Colicchio now expects that the software maker will post earnings per share of $9.55 for the year, down from their prior forecast of $10.75. Barrington Research has a “Outperform” rating and a $205.00 price target on the stock. The consensus estimate for Insight Enterprises’ current full-year earnings is $9.54 per share. Barrington Research also issued estimates for Insight Enterprises’ Q4 2024 earnings at $2.53 EPS and FY2025 earnings at $10.89 EPS.

Insight Enterprises (NASDAQ:NSIT) last released its earnings results on Thursday, October 31st. The software maker reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The firm’s quarterly revenue was down 7.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.37 earnings per share.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. dropped their price target on Insight Enterprises from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus boosted their target price on Insight Enterprises from $192.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, July 17th.

Insight Enterprises Price Performance

Shares of NSIT opened at $174.50 on Thursday. Insight Enterprises has a fifty-two week low of $141.73 and a fifty-two week high of $228.07. The firm’s 50-day simple moving average is $208.32 and its two-hundred day simple moving average is $203.58. The stock has a market cap of $5.54 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.20 and a current ratio of 1.24.

Insider Activity

In related news, insider Jennifer M. Vasin sold 739 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $206.03, for a total value of $152,256.17. Following the completion of the transaction, the insider now directly owns 5,460 shares in the company, valued at $1,124,923.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.23% of the company’s stock.

Hedge Funds Weigh In On Insight Enterprises

A number of hedge funds have recently bought and sold shares of the business. Huntington National Bank boosted its holdings in shares of Insight Enterprises by 7.3% during the 3rd quarter. Huntington National Bank now owns 995 shares of the software maker’s stock valued at $214,000 after acquiring an additional 68 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Insight Enterprises in the third quarter worth approximately $227,000. Aigen Investment Management LP purchased a new stake in Insight Enterprises in the third quarter worth approximately $671,000. Entropy Technologies LP bought a new stake in Insight Enterprises in the 3rd quarter worth approximately $253,000. Finally, Crossmark Global Holdings Inc. raised its stake in Insight Enterprises by 18.1% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,265 shares of the software maker’s stock valued at $488,000 after buying an additional 347 shares during the last quarter.

Insight Enterprises Company Profile

Insight Enterprises, Inc, together with its subsidiaries, provides information technology, hardware, software, and services in the United States and internationally. The company offers modern platforms/infrastructure that manages and supports cloud and data platforms, modern networks, and edge technologies; cybersecurity solutions automates and connects modern platform securely; data and artificial intelligence modernizes data platforms and architectures, and build data analytics and AI solutions; modern workplace and apps; and intelligent edge solutions that gathers and utilizes data for real-time decision making.