Principal Financial Group Inc. Sells 6,068 Shares of Insight Enterprises, Inc. (NASDAQ:NSIT)

Principal Financial Group Inc. decreased its holdings in shares of Insight Enterprises, Inc. (NASDAQ:NSIT) by 4.1% during the third quarter, HoldingsChannel reports. The fund owned 141,891 shares of the software maker’s stock after selling 6,068 shares during the quarter. Principal Financial Group Inc.’s holdings in Insight Enterprises were worth $30,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Geode Capital Management LLC grew its position in shares of Insight Enterprises by 1.7% in the third quarter. Geode Capital Management LLC now owns 659,483 shares of the software maker’s stock valued at $142,073,000 after purchasing an additional 10,711 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Insight Enterprises by 30.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 368,951 shares of the software maker’s stock worth $79,468,000 after purchasing an additional 85,428 shares during the period. Bank of New York Mellon Corp grew its holdings in Insight Enterprises by 14.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 286,297 shares of the software maker’s stock valued at $56,790,000 after buying an additional 36,790 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Insight Enterprises by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 192,551 shares of the software maker’s stock valued at $41,474,000 after buying an additional 709 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Insight Enterprises by 14.6% in the third quarter. Wellington Management Group LLP now owns 163,400 shares of the software maker’s stock worth $35,195,000 after buying an additional 20,851 shares in the last quarter.

Insight Enterprises Stock Down 0.2 %

NSIT stock opened at $154.00 on Wednesday. The company’s 50 day moving average is $171.74 and its 200 day moving average is $194.18. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.39 and a beta of 1.42. The company has a current ratio of 1.24, a quick ratio of 1.20 and a debt-to-equity ratio of 0.43. Insight Enterprises, Inc. has a 1-year low of $146.56 and a 1-year high of $228.07.

Insight Enterprises (NASDAQ:NSIT) last issued its quarterly earnings results on Thursday, October 31st. The software maker reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.37 by ($0.18). Insight Enterprises had a return on equity of 19.71% and a net margin of 3.42%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the company earned $2.37 EPS. Insight Enterprises’s quarterly revenue was down 7.9% on a year-over-year basis. Sell-side analysts predict that Insight Enterprises, Inc. will post 9.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barrington Research reduced their price objective on shares of Insight Enterprises from $225.00 to $205.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Redburn Atlantic began coverage on shares of Insight Enterprises in a research report on Friday, November 15th. They set a “buy” rating and a $220.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $212.50.

About Insight Enterprises

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.