Convergence Investment Partners LLC acquired a new position in shares of ASGN Inc (NYSE:ASGN) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,940 shares of the business services provider’s stock, valued at approximately $596,000.
Other large investors have also added to or reduced their stakes in the company. Bartlett & Co. LLC acquired a new stake in shares of ASGN during the first quarter worth $26,000. CWM LLC bought a new stake in ASGN during the first quarter worth approximately $35,000. Synovus Financial Corp bought a new stake in ASGN during the first quarter worth approximately $37,000. Nisa Investment Advisors LLC raised its holdings in ASGN by 113.3% during the first quarter. Nisa Investment Advisors LLC now owns 1,600 shares of the business services provider’s stock worth $57,000 after purchasing an additional 850 shares in the last quarter. Finally, Pendal Group Ltd bought a new stake in ASGN during the first quarter worth approximately $82,000. 90.96% of the stock is owned by institutional investors and hedge funds.
Shares of ASGN traded down $1.93 during trading hours on Friday, reaching $68.46. 286,889 shares of the company traded hands, compared to its average volume of 272,331. The stock’s fifty day moving average is $65.28 and its 200 day moving average is $56.10. The stock has a market cap of $3.59 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 3.12 and a beta of 2.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.19 and a current ratio of 2.39. ASGN Inc has a 1-year low of $29.04 and a 1-year high of $72.66.
ASGN (NYSE:ASGN) last announced its quarterly earnings data on Wednesday, July 29th. The business services provider reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.27. The business had revenue of $936.80 million during the quarter, compared to analyst estimates of $898.82 million. ASGN had a net margin of 4.79% and a return on equity of 18.50%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. On average, equities research analysts predict that ASGN Inc will post 3.98 EPS for the current year.
Several equities research analysts recently commented on ASGN shares. TheStreet raised ASGN from a “c” rating to a “b-” rating in a report on Wednesday, June 3rd. Zacks Investment Research raised ASGN from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Friday, July 17th. Credit Suisse Group upped their price target on ASGN from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday. BMO Capital Markets dropped their price target on ASGN from $78.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, April 20th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $60.00 price target (up previously from $57.00) on shares of ASGN in a report on Friday, May 1st. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $65.25.
In other ASGN news, insider Randolph C. Blazer sold 10,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $65.58, for a total transaction of $655,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jeremy M. Jones sold 17,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $63.88, for a total transaction of $1,085,960.00. Following the sale, the director now directly owns 3,257 shares in the company, valued at $208,057.16. The disclosure for this sale can be found here. In the last three months, insiders sold 38,151 shares of company stock worth $2,403,163. 3.90% of the stock is currently owned by insiders.
ASGN Incorporated (NYSE: ASGN) is one of the foremost providers of IT and professional services in the technology, digital, creative, engineering and life sciences fields across commercial and government sectors. Operating through its Apex, Oxford and ECS segments, ASGN helps leading corporate enterprises and government organizations develop, implement and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions.
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