ASGN’s (ASGN) “Buy” Rating Reaffirmed at Canaccord Genuity Group

Canaccord Genuity Group reaffirmed their buy rating on shares of ASGN (NYSE:ASGN) in a research report sent to investors on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a $115.00 target price on the business services provider’s stock.

Separately, Jefferies Financial Group cut their price target on shares of ASGN from $95.00 to $88.00 and set a “hold” rating on the stock in a research note on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, ASGN presently has an average rating of “Hold” and an average price target of $97.22.

ASGN Trading Up 1.3 %

Shares of NYSE:ASGN traded up $1.25 during mid-day trading on Thursday, reaching $95.12. The stock had a trading volume of 32,035 shares, compared to its average volume of 292,398. The firm has a 50 day simple moving average of $93.74 and a two-hundred day simple moving average of $93.96. ASGN has a twelve month low of $77.37 and a twelve month high of $106.42. The firm has a market cap of $4.37 billion, a PE ratio of 21.74 and a beta of 1.40. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.57.

ASGN (NYSE:ASGN) last announced its quarterly earnings results on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.08. The company had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.03 billion. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The firm’s revenue was down 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 EPS. On average, research analysts predict that ASGN will post 5.14 EPS for the current fiscal year.

Insider Buying and Selling at ASGN

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

Institutional Investors Weigh In On ASGN

Institutional investors and hedge funds have recently modified their holdings of the company. Argent Capital Management LLC grew its holdings in ASGN by 12.1% during the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock worth $984,000 after purchasing an additional 1,142 shares during the period. LRI Investments LLC bought a new position in shares of ASGN during the 1st quarter worth approximately $154,000. Handelsbanken Fonder AB increased its holdings in shares of ASGN by 28.2% during 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 during the last quarter. Meadow Creek Wealth Advisors LLC bought a new stake in ASGN in the 1st quarter valued at $512,000. Finally, SG Americas Securities LLC lifted its holdings in ASGN by 1,851.6% during the 2nd quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after purchasing an additional 18,868 shares during the last quarter. 95.36% of the stock is 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.