ASGN (NYSE:ASGN) Trading Down 5.1% – Time to Sell?

ASGN Incorporated (NYSE:ASGN) shares were down 5.1% on Thursday . The stock traded as low as $88.53 and last traded at $88.49. Approximately 348,932 shares changed hands during mid-day trading, an increase of 19% from the average daily volume of 292,997 shares. The stock had previously closed at $93.22.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded ASGN from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Canaccord Genuity Group reiterated a “buy” rating and issued a $115.00 price target on shares of ASGN in a research note on Thursday, October 24th. Finally, BMO Capital Markets raised ASGN from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $96.00 to $100.00 in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, ASGN presently has an average rating of “Hold” and a consensus price target of $101.75.

ASGN Price Performance

The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.25 and a current ratio of 2.25. The company has a market cap of $3.90 billion, a PE ratio of 22.36 and a beta of 1.38. The stock has a 50 day moving average of $88.11 and a 200-day moving average of $91.67.

Insiders Place Their Bets

In other ASGN news, CEO Theodore S. Hanson sold 1,200 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total value of $119,568.00. Following the completion of the transaction, the chief executive officer now owns 288,855 shares in the company, valued at approximately $28,781,512.20. This represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 3.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ASGN

Several institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP acquired a new stake in ASGN in the fourth quarter valued at approximately $299,000. Argent Capital Management LLC lifted its position in shares of ASGN by 31.6% during the 4th quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock valued at $1,158,000 after buying an additional 3,339 shares in the last quarter. Cim Investment Management Inc. acquired a new stake in ASGN in the 3rd quarter valued at $205,000. Crossmark Global Holdings Inc. increased its holdings in ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock worth $505,000 after acquiring an additional 800 shares in the last quarter. Finally, Reinhart Partners LLC. raised its position in ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after acquiring an additional 39,607 shares during the period. Hedge funds and other institutional investors own 95.36% of the company’s stock.

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.