Insight Enterprises, Inc. (NASDAQ:NSIT) Expected to Post Quarterly Sales of $2.22 Billion

Brokerages expect that Insight Enterprises, Inc. (NASDAQ:NSIT) will announce sales of $2.22 billion for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Insight Enterprises’ earnings. The lowest sales estimate is $2.19 billion and the highest is $2.26 billion. Insight Enterprises reported sales of $1.69 billion in the same quarter last year, which indicates a positive year over year growth rate of 31.4%. The business is expected to announce its next earnings results on Wednesday, May 6th.

According to Zacks, analysts expect that Insight Enterprises will report full-year sales of $9.36 billion for the current financial year, with estimates ranging from $9.34 billion to $9.39 billion. For the next financial year, analysts expect that the firm will report sales of $9.59 billion, with estimates ranging from $9.52 billion to $9.75 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Insight Enterprises.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.04). The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $2.37 billion. Insight Enterprises had a net margin of 2.28% and a return on equity of 17.21%. Insight Enterprises’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 earnings per share.

NSIT has been the subject of a number of recent analyst reports. BidaskClub lowered shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a report on Friday, February 7th. Zacks Investment Research lowered shares of Insight Enterprises from a “buy” rating to a “hold” rating in a report on Friday, January 24th. ValuEngine lowered shares of Insight Enterprises from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, B. Riley reaffirmed a “buy” rating and set a $77.00 price target on shares of Insight Enterprises in a report on Monday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Insight Enterprises presently has an average rating of “Hold” and an average target price of $65.75.

In other Insight Enterprises news, Director Bruce Armstrong sold 3,523 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $66.13, for a total transaction of $232,975.99. 1.75% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its holdings in Insight Enterprises by 2.0% during the 2nd quarter. BlackRock Inc. now owns 5,392,404 shares of the software maker’s stock worth $313,837,000 after acquiring an additional 106,813 shares in the last quarter. FMR LLC lifted its position in shares of Insight Enterprises by 105.1% in the 4th quarter. FMR LLC now owns 2,649,806 shares of the software maker’s stock worth $186,255,000 after buying an additional 1,357,545 shares during the last quarter. Panagora Asset Management Inc. lifted its position in shares of Insight Enterprises by 10.1% in the 4th quarter. Panagora Asset Management Inc. now owns 414,554 shares of the software maker’s stock worth $29,139,000 after buying an additional 37,955 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Insight Enterprises by 2.1% in the 4th quarter. Principal Financial Group Inc. now owns 310,903 shares of the software maker’s stock worth $21,853,000 after buying an additional 6,368 shares during the last quarter. Finally, Pzena Investment Management LLC lifted its position in shares of Insight Enterprises by 7.0% in the 4th quarter. Pzena Investment Management LLC now owns 292,026 shares of the software maker’s stock worth $20,527,000 after buying an additional 19,084 shares during the last quarter. 99.05% of the stock is owned by institutional investors.

NSIT traded down $0.91 during trading hours on Friday, reaching $59.15. 609,163 shares of the stock traded hands, compared to its average volume of 329,508. The firm’s fifty day simple moving average is $68.80 and its two-hundred day simple moving average is $60.54. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 13.03 and a beta of 1.22. Insight Enterprises has a fifty-two week low of $46.28 and a fifty-two week high of $73.22. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.60 and a quick ratio of 1.47.

Insight Enterprises Company Profile

Insight Enterprises, Inc provides information technology (IT) hardware, software, and services solutions in the United States, Canada, Europe, the Middle East, Africa, and the Asia-Pacific. It sources, procures, stages, configures, integrates, tests, deploys, and maintains IT products spanning endpoints to infrastructure; and offers software life cycle, and hardware warranty and software maintenance services.

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