Principal Financial Group Inc. has decreased its holdings in Insight Enterprises, Inc. by 3.6% during the second quarter, according to a recent filing with the SEC. The financial firm sold 5,506 shares of Insight Enterprises’ stock, resulting in a total of 147,959 shares worth $29,349,000 as of the filing.
Other institutional investors, including GAMMA Investing LLC, Russell Investments Group Ltd., Van ECK Associates Corp, First Trust Direct Indexing L.P., and Swiss National Bank, have also made modifications to their holdings in Insight Enterprises recently.
In insider news, Jennifer M. Vasin, an insider at Insight Enterprises, sold 739 shares of the company’s stock on August 19th. The shares were sold at an average price of $206.03, totaling $152,256.17. Following the transaction, Vasin now holds 5,460 shares valued at $1,124,923.80.
Insight Enterprises recently reported its quarterly earnings data, revealing that it missed the consensus estimate of $2.82 EPS by ($0.36). The company had a return on equity of 20.38% and a net margin of 3.38%. Its revenue for the quarter was $2.16 billion, falling short of analyst estimates of $2.47 billion. Compared to the same quarter last year, Insight Enterprises’ quarterly revenue was down 8.0%.
Sell-side analysts predict that Insight Enterprises, Inc. will post earnings per share of 10.68 for the current year.
Several research analysts have issued reports on Insight Enterprises’ stock. JPMorgan Chase & Co. lowered their price objective from $233.00 to $225.00 and gave the stock a “neutral” rating. Barrington Research reaffirmed an “outperform” rating with a $225.00 price target. StockNews.com downgraded Insight Enterprises from a “buy” rating to a “hold” rating. Stifel Nicolaus raised their price objective from $192.00 to $200.00 and maintained a “hold” rating.
Insight Enterprises, Inc. provides information technology, hardware, software, and services globally. The company offers various solutions, including modern platforms/infrastructure, cybersecurity, data and artificial intelligence, modern workplace and apps, and intelligent edge solutions.