ASGN (NYSE:ASGN) had its target price lowered by analysts at Wells Fargo & Co from $96.00 to $82.00 in a research note issued to investors on Thursday, October 25th, The Fly reports. The firm currently has an “outperform” rating on the business services provider’s stock. Wells Fargo & Co’s price objective indicates a potential upside of 19.06% from the company’s previous close.
A number of other research firms have also weighed in on ASGN. Robert W. Baird restated a “neutral” rating on shares of ASGN in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of ASGN from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Credit Suisse Group assumed coverage on shares of ASGN in a report on Friday, August 10th. They issued a “neutral” rating and a $92.00 target price on the stock. ValuEngine lowered shares of ASGN from a “buy” rating to a “hold” rating in a report on Saturday, October 6th. Finally, Bank of America assumed coverage on shares of ASGN in a report on Tuesday, October 23rd. They issued a “buy” rating and a $84.00 target price on the stock. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $80.00.
ASGN traded down $2.38 on Thursday, reaching $68.87. 368,479 shares of the company’s stock were exchanged, compared to its average volume of 549,468. The firm has a market capitalization of $3.72 billion, a PE ratio of 22.58, a PEG ratio of 1.37 and a beta of 2.00. ASGN has a twelve month low of $58.84 and a twelve month high of $94.25. The company has a current ratio of 2.22, a quick ratio of 2.28 and a debt-to-equity ratio of 1.02.
In related news, Director Edwin A. Sheridan purchased 20,000 shares of ASGN stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $65.33 per share, with a total value of $1,306,600.00. Following the purchase, the director now owns 21,686 shares of the company’s stock, valued at $1,416,746.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Edward L. Pierce sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $90.77, for a total transaction of $2,269,250.00. Following the completion of the sale, the chief financial officer now directly owns 56,584 shares in the company, valued at $5,136,129.68. The disclosure for this sale can be found here. Insiders acquired a total of 36,250 shares of company stock worth $2,409,613 over the last quarter. 3.90% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Chatham Capital Group Inc. increased its stake in ASGN by 2.5% during the 2nd quarter. Chatham Capital Group Inc. now owns 32,320 shares of the business services provider’s stock worth $2,527,000 after buying an additional 775 shares during the period. Aperio Group LLC increased its stake in ASGN by 5.0% during the 3rd quarter. Aperio Group LLC now owns 17,332 shares of the business services provider’s stock worth $1,368,000 after buying an additional 825 shares during the period. Congress Asset Management Co. MA increased its stake in ASGN by 1.9% during the 3rd quarter. Congress Asset Management Co. MA now owns 48,191 shares of the business services provider’s stock worth $3,804,000 after buying an additional 901 shares during the period. Janus Henderson Group PLC increased its stake in ASGN by 38.5% during the 3rd quarter. Janus Henderson Group PLC now owns 3,595 shares of the business services provider’s stock worth $284,000 after buying an additional 999 shares during the period. Finally, Piedmont Investment Advisors LLC increased its stake in ASGN by 9.5% during the 2nd quarter. Piedmont Investment Advisors LLC now owns 11,484 shares of the business services provider’s stock worth $898,000 after buying an additional 1,000 shares during the period. 90.71% of the stock is currently owned by institutional investors and hedge funds.
ASGN Company Profile
ASGN Incorporated provides IT and professional services in the technology, creative/digital, engineering, and life sciences fields across commercial and government sectors in the United State and internationally. The company operates through Apex, Oxford, and ECS segments. The Apex segment offers technical, scientific, digital, and creative services and solutions to Fortune 1000 and mid-market clients.
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