$2.20 Billion in Sales Expected for Insight Enterprises, Inc. (NASDAQ:NSIT) This Quarter

Analysts forecast that Insight Enterprises, Inc. (NASDAQ:NSIT) will report sales of $2.20 billion for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Insight Enterprises’ earnings. The lowest sales estimate is $2.16 billion and the highest is $2.26 billion. Insight Enterprises reported sales of $1.94 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 2nd.

On average, analysts expect that Insight Enterprises will report full-year sales of $8.98 billion for the current financial year, with estimates ranging from $8.94 billion to $9.02 billion. For the next fiscal year, analysts expect that the company will report sales of $9.46 billion, with estimates ranging from $9.34 billion to $9.58 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Insight Enterprises.

Insight Enterprises (NASDAQ:NSIT) last released its quarterly earnings results on Thursday, August 5th. The software maker reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.87 by $0.04. The firm had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Insight Enterprises had a net margin of 2.24% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 EPS.

NSIT has been the topic of several research reports. JPMorgan Chase & Co. downgraded Insight Enterprises from an “overweight” rating to a “neutral” rating and set a $106.00 target price on the stock. in a research report on Wednesday, June 16th. They noted that the move was a valuation call. Barrington Research upped their target price on shares of Insight Enterprises from $110.00 to $116.00 and gave the stock an “outperform” rating in a report on Friday, August 6th. Finally, Zacks Investment Research downgraded shares of Insight Enterprises from a “buy” rating to a “hold” rating in a research note on Friday.

NSIT stock opened at $91.08 on Wednesday. Insight Enterprises has a 52 week low of $52.63 and a 52 week high of $107.26. The company has a quick ratio of 1.35, a current ratio of 1.43 and a debt-to-equity ratio of 0.34. The firm has a 50-day simple moving average of $97.15 and a 200-day simple moving average of $98.78. The stock has a market capitalization of $3.17 billion, a P/E ratio of 16.99, a P/E/G ratio of 1.15 and a beta of 1.84.

In other Insight Enterprises news, CFO Glynis Bryan sold 5,000 shares of the stock in a transaction dated Friday, August 13th. The shares were sold at an average price of $98.45, for a total transaction of $492,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rachael Ann Bertrandt Crump sold 1,500 shares of Insight Enterprises stock in a transaction that occurred on Friday, August 13th. The shares were sold at an average price of $97.26, for a total transaction of $145,890.00. Following the completion of the sale, the insider now owns 2,381 shares of the company’s stock, valued at approximately $231,576.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,732 shares of company stock valued at $952,197. 2.10% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. ValueAct Holdings L.P. raised its position in Insight Enterprises by 158.5% in the 2nd quarter. ValueAct Holdings L.P. now owns 2,843,690 shares of the software maker’s stock valued at $284,397,000 after purchasing an additional 1,743,690 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Insight Enterprises by 1,309.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 245,679 shares of the software maker’s stock valued at $23,443,000 after acquiring an additional 228,245 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Insight Enterprises by 22.4% in the first quarter. Janus Henderson Group PLC now owns 668,514 shares of the software maker’s stock worth $63,790,000 after acquiring an additional 122,291 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Insight Enterprises during the 2nd quarter worth approximately $12,045,000. Finally, Vanguard Group Inc. increased its position in shares of Insight Enterprises by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,874,433 shares of the software maker’s stock valued at $387,483,000 after purchasing an additional 98,877 shares during the last quarter.

About Insight Enterprises

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 and Africa; and Asia-Pacific.

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