By otakuyassine3@gmail.com 
ASGN Incorporated (NYSE:ASGN – Get Free Report) was the target of a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,810,000 shares, an increase of 6.5% from the November 15th total of 1,700,000 shares. Currently, 4.2% of the shares of the company are sold short. Based on an average trading volume of 330,400 shares, the short-interest ratio is presently 5.5 days.
Insider Activity
In other news, President Randolph C. Blazer sold 10,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $95.03, for a total value of $950,300.00. Following the completion of the transaction, the president now owns 85,923 shares in the company, valued at $8,165,262.69. This trade represents a 10.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carol Lindstrom sold 1,060 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $93.02, for a total value of $98,601.20. Following the sale, the director now directly owns 4,579 shares in the company, valued at $425,938.58. This trade represents a 18.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,260 shares of company stock valued at $1,168,469 over the last quarter. Corporate insiders own 3.20% of the company’s stock.
Hedge Funds Weigh In On ASGN
A number of institutional investors have recently added to or reduced their stakes in ASGN. Cim Investment Management Inc. acquired a new position in shares of ASGN in the third quarter worth about $205,000. Crossmark Global Holdings Inc. raised its stake in ASGN by 17.3% during the third quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock valued at $505,000 after buying an additional 800 shares in the last quarter. Argent Capital Management LLC increased its holdings in shares of ASGN by 43.8% in the 2nd quarter. Argent Capital Management LLC now owns 9,417 shares of the business services provider’s stock valued at $830,000 after acquiring an additional 2,868 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after buying an additional 2,600 shares during the last quarter. Finally, Reinhart Partners LLC. grew its holdings in shares of ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after purchasing an additional 39,607 shares during the last quarter. Institutional investors and hedge funds own 95.36% of the company’s stock.
ASGN Trading Down 1.6 %
Shares of ASGN traded down $1.42 during mid-day trading on Tuesday, reaching $87.14. The company had a trading volume of 275,805 shares, compared to its average volume of 306,579. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.58. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 22.05 and a beta of 1.37. The firm has a fifty day simple moving average of $92.48 and a 200-day simple moving average of $92.31. ASGN has a fifty-two week low of $83.71 and a fifty-two week high of $106.42.
ASGN (NYSE:ASGN – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The business services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.08. ASGN had a net margin of 4.37% and a return on equity of 13.65%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the business posted $1.68 EPS. The business’s quarterly revenue was down 7.7% on a year-over-year basis. On average, sell-side analysts anticipate that ASGN will post 5.17 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ASGN. Jefferies Financial Group dropped their price objective on ASGN from $95.00 to $88.00 and set a “hold” rating for the company in a research report on Monday, September 9th. BMO Capital Markets raised shares of ASGN from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $96.00 to $100.00 in a research note on Friday, November 22nd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $115.00 target price on shares of ASGN in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, ASGN currently has an average rating of “Hold” and an average target price of $97.83.
Check Out Our Latest Stock Analysis on ASGN
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.
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