ASGN (NYSE:ASGN) Trading Down 3.4% – Time to Sell?

ASGN Incorporated (NYSE:ASGN) dropped 3.4% during trading on Friday . The stock traded as low as $95.19 and last traded at $95.39. Approximately 89,470 shares were traded during trading, a decline of 69% from the average daily volume of 290,316 shares. The stock had previously closed at $98.71.

Analysts Set New Price Targets

ASGN has been the subject of several research reports. Jefferies Financial Group reduced their price target on shares of ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $115.00 price target on shares of ASGN in a research report on Thursday, July 25th. Two investment 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 MarketBeat, ASGN presently has a consensus rating of “Hold” and an average price target of $97.22.

ASGN Stock Performance

The business’s fifty day moving average is $93.23 and its two-hundred day moving average is $94.20. The stock has a market capitalization of $4.38 billion, a PE ratio of 22.84 and a beta of 1.40. 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 (NYSE:ASGN) last issued its quarterly earnings data on Wednesday, July 24th. The business services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. The business had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.59 earnings per share. As a group, research analysts anticipate that ASGN Incorporated will post 5.14 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arshad Matin sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $92.51, for a total value of $185,020.00. Following the completion of the sale, the director now owns 11,645 shares in the company, valued at approximately $1,077,278.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jonathan S. Holman sold 503 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $90.45, for a total transaction of $45,496.35. Following the completion of the transaction, the director now owns 10,821 shares in the company, valued at $978,759.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arshad Matin sold 2,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $92.51, for a total value of $185,020.00. Following the completion of the sale, the director now owns 11,645 shares in the company, valued at approximately $1,077,278.95. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

Hedge Funds Weigh In On ASGN

A number of hedge funds have recently added to or reduced their stakes in ASGN. Meadow Creek Wealth Advisors LLC bought a new position in ASGN in the 1st quarter worth about $512,000. Argent Capital Management LLC grew its stake in ASGN by 10.7% in the 1st quarter. Argent Capital Management LLC now owns 6,549 shares of the business services provider’s stock worth $686,000 after acquiring an additional 632 shares in the last quarter. LRI Investments LLC bought a new position in ASGN in the 1st quarter worth about $154,000. SG Americas Securities LLC grew its stake in ASGN by 1,851.6% in the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock worth $1,753,000 after acquiring an additional 18,868 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 2,600 shares in the last quarter. 95.36% of the stock is currently owned by institutional investors.

ASGN Company Profile

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.