ASGN (NYSE:ASGN) Stock Price Down 3.4% – Here’s Why

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ASGN shares. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 price target on shares of ASGN in a report on Thursday, July 25th. Jefferies Financial Group lowered 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ASGN presently has a consensus rating of “Hold” and a consensus target price of $97.22.

ASGN Price Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market capitalization of $4.38 billion, a PE ratio of 22.08 and a beta of 1.40. The company’s 50-day simple moving average is $93.37 and its 200-day simple moving average is $94.10.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.03. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, sell-side analysts anticipate that ASGN Incorporated will post 5.14 earnings per share for the current year.

Insider Transactions at ASGN

In related news, Director Jonathan S. Holman sold 503 shares of ASGN stock in a transaction 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 directly owns 10,821 shares in the company, valued at $978,759.45. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Arshad Matin sold 2,000 shares of ASGN stock in a transaction that occurred 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 sale, the director now directly owns 11,645 shares in the company, valued at $1,077,278.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jonathan S. Holman sold 503 shares of the 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 transaction, the director now owns 10,821 shares of the company’s stock, valued at $978,759.45. The trade was 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.

Hedge Funds Weigh In On ASGN

A number of institutional investors and hedge funds have recently made changes to their positions in ASGN. Meadow Creek Wealth Advisors LLC purchased a new stake in ASGN during the first quarter worth about $512,000. Argent Capital Management LLC boosted its stake in shares of ASGN by 10.7% during 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 acquired a new stake in shares of ASGN in the 1st quarter worth approximately $154,000. SG Americas Securities LLC increased 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 valued at $1,753,000 after purchasing an additional 18,868 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its holdings in ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after purchasing an additional 2,600 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

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.