Canaccord Genuity Group Reiterates “Buy” Rating for ASGN (NYSE:ASGN)

ASGN (NYSE:ASGN)‘s stock had its “buy” rating reiterated by Canaccord Genuity Group in a research report issued on Thursday, Benzinga reports. They presently have a $115.00 target price on the business services provider’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 23.99% from the company’s previous close.

Separately, 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 report on Monday, September 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.44.

ASGN Stock Performance

Shares of ASGN stock opened at $92.75 on Thursday. The company has a market cap of $4.26 billion, a P/E ratio of 21.47 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. The business has a 50-day moving average price of $93.77 and a two-hundred day moving average price of $93.92. ASGN has a 1-year low of $77.37 and a 1-year high of $106.42.

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

Insider Buying and Selling at ASGN

In other news, President Randolph C. Blazer sold 10,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $95.03, for a total transaction of $950,300.00. Following the completion of the sale, the president now directly owns 85,923 shares of the company’s stock, valued at $8,165,262.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, 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 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Randolph C. Blazer sold 10,000 shares of ASGN stock in a transaction on Friday, October 25th. The stock was sold at an average price of $95.03, for a total transaction of $950,300.00. Following the transaction, the president now directly owns 85,923 shares in the company, valued at $8,165,262.69. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,563 shares of company stock valued at $1,279,418. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of ASGN

Several institutional investors and hedge funds have recently made changes to their positions in the company. Argent Capital Management LLC grew its position in ASGN by 12.1% in the 3rd 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 in the last quarter. Reinhart Partners LLC. grew its holdings in shares of ASGN by 7.2% in the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after acquiring an additional 39,607 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in shares of ASGN by 28.2% in the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after acquiring an additional 2,600 shares in the last quarter. SG Americas Securities LLC increased its position in shares of ASGN by 1,851.6% during the second quarter. SG Americas Securities LLC now owns 19,887 shares of the business services provider’s stock valued at $1,753,000 after acquiring an additional 18,868 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in ASGN during the first quarter worth $154,000. Hedge funds and other institutional investors own 95.36% of the company’s stock.

About ASGN

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.