ASGN Incorporated (NYSE:ASGN) Short Interest Update

ASGN Incorporated (NYSE:ASGN) was the target of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 1,370,000 shares, a decline of 5.5% from the September 15th total of 1,450,000 shares. Based on an average daily volume of 315,800 shares, the days-to-cover ratio is presently 4.3 days. Approximately 3.2% of the shares of the company are sold short.

Insider Buying and Selling at ASGN

In other news, Director Jonathan S. Holman sold 503 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $90.45, for a total value of $45,496.35. Following the transaction, the director now owns 10,821 shares in the company, valued at $978,759.45. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Jonathan S. Holman sold 503 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total value of $45,496.35. Following the completion of the sale, the director now directly owns 10,821 shares in the company, valued at $978,759.45. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Arshad Matin sold 2,000 shares of ASGN stock in a transaction on Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the transaction, the director now owns 11,645 shares in the company, valued at $1,077,278.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. LRI Investments LLC bought a new position in ASGN during the first quarter valued at $154,000. Meadow Creek Wealth Advisors LLC bought a new stake in ASGN in the first quarter worth $512,000. Argent Capital Management LLC boosted its stake in ASGN by 10.7% during the first quarter. Argent Capital Management LLC now owns 6,549 shares of the business services provider’s stock worth $686,000 after buying an additional 632 shares during the period. Handelsbanken Fonder AB increased its position in ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after acquiring an additional 2,600 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of ASGN by 1,851.6% in the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after acquiring an additional 18,868 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

ASGN Stock Down 0.5 %

Shares of ASGN stock opened at $98.68 on Friday. The stock has a market cap of $4.53 billion, a P/E ratio of 22.84 and a beta of 1.40. The company’s fifty day simple moving average is $93.23 and its two-hundred day simple moving average is $94.20. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.57. ASGN has a 52 week low of $76.70 and a 52 week high of $106.42.

ASGN (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.05 billion. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The firm’s revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.59 earnings per share. Analysts predict that ASGN will post 5.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 price target on shares of ASGN in a research report on Thursday, July 25th. Jefferies Financial Group dropped their target price on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $97.22.

About ASGN

ASGN Incorporated engages in the provision of information technology (IT) services and solutions in the technology, digital, and creative fields for commercial and government sectors in the United States, Canada, and Europe. It operates through two segments: Commercial and Federal Government. The Commercial Segment provides consulting, creative digital marketing, and permanent placement services primarily to enterprise clients.