ASGN Incorporated (NYSE:ASGN) Sees Significant Decline in Short Interest

ASGN Incorporated (NYSE:ASGN) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,370,000 shares, a decrease 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 currently 4.3 days. Currently, 3.2% of the shares of the company are short sold.

ASGN Price Performance

Shares of NYSE:ASGN opened at $97.34 on Wednesday. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.53 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 2.34. The business’s 50 day simple moving average is $92.75 and its 200-day simple moving average is $94.13. ASGN has a 12 month low of $76.70 and a 12 month high of $106.42.

ASGN (NYSE:ASGN) last posted its earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.03. ASGN had a return on equity of 14.30% and a net margin of 4.56%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the business earned $1.59 earnings per share. ASGN’s quarterly revenue was down 8.5% compared to the same quarter last year. As a group, equities analysts forecast that ASGN will post 5.14 earnings per share for the current fiscal year.

Insider Activity at ASGN

In other ASGN news, Director Jonathan S. Holman sold 503 shares of the firm’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 transaction, the director now directly owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jonathan S. Holman sold 503 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 10,821 shares of the company’s stock, valued at approximately $978,759.45. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 sale, the director now directly owns 11,645 shares of the company’s stock, valued at approximately $1,077,278.95. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On ASGN

A number of large investors have recently added to or reduced their stakes in the business. LRI Investments LLC purchased a new stake in shares of ASGN in the first quarter valued at about $154,000. Meadow Creek Wealth Advisors LLC acquired a new position in shares of ASGN during the 1st quarter worth approximately $512,000. Argent Capital Management LLC raised its position 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 purchasing an additional 632 shares during the last quarter. Handelsbanken Fonder AB lifted 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 valued at $1,102,000 after buying an additional 2,600 shares in the last quarter. Finally, SG Americas Securities LLC grew 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 buying an additional 18,868 shares during the last quarter. 95.36% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ASGN has been the subject of a number of recent analyst reports. Canaccord Genuity Group restated a “buy” rating and issued a $115.00 price objective on shares of ASGN in a research report on Thursday, July 25th. Jefferies Financial Group reduced their price target on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a report on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.22.

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.