Short Interest in ASGN Incorporated (NYSE:ASGN) Grows By 9.8%

ASGN Incorporated (NYSE:ASGN) was the target of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 1,230,000 shares, a growth of 9.8% from the February 29th total of 1,120,000 shares. Approximately 2.8% of the company’s shares are short sold. Based on an average daily volume of 230,600 shares, the days-to-cover ratio is currently 5.3 days.

ASGN Stock Up 0.3 %

NYSE ASGN traded up $0.35 during trading hours on Wednesday, hitting $101.22. 61,733 shares of the company were exchanged, compared to its average volume of 231,484. ASGN has a 52-week low of $63.27 and a 52-week high of $106.42. The company has a 50 day moving average of $98.57 and a two-hundred day moving average of $91.47. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 4.09 and a beta of 1.50. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.55.

ASGN (NYSE:ASGN) last announced its earnings results on Wednesday, February 7th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. ASGN had a net margin of 4.93% and a return on equity of 15.52%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the firm posted $1.51 earnings per share. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Equities research analysts anticipate that ASGN will post 5.82 earnings per share for the current year.

Insider Activity at ASGN

In other news, President Randolph C. Blazer sold 7,746 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $94.31, for a total transaction of $730,525.26. Following the completion of the transaction, the president now directly owns 107,923 shares in the company, valued at $10,178,218.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Randolph C. Blazer sold 7,746 shares of ASGN stock in a transaction on Friday, February 9th. The shares were sold at an average price of $94.31, for a total value of $730,525.26. Following the completion of the sale, the president now owns 107,923 shares of the company’s stock, valued at approximately $10,178,218.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jennifer Hankes Painter sold 1,100 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $93.62, for a total value of $102,982.00. Following the completion of the sale, the senior vice president now directly owns 52,716 shares of the company’s stock, valued at $4,935,271.92. The disclosure for this sale can be found here. 3.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ASGN

Institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors grew its position in ASGN by 7.8% in the 2nd quarter. Captrust Financial Advisors now owns 1,833 shares of the business services provider’s stock worth $165,000 after purchasing an additional 132 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of ASGN by 38.5% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 615 shares of the business services provider’s stock worth $50,000 after acquiring an additional 171 shares during the period. Pinebridge Investments L.P. bought a new position in shares of ASGN in the second quarter valued at approximately $29,000. Argent Capital Management LLC increased its position in shares of ASGN by 8.9% during the 4th quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock valued at $569,000 after purchasing an additional 484 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of ASGN by 8.1% in the 3rd quarter. SG Americas Securities LLC now owns 15,891 shares of the business services provider’s stock worth $1,298,000 after purchasing an additional 1,193 shares during the last quarter. Hedge funds and other institutional investors own 95.36% of the company’s stock.

Wall Street Analysts Forecast Growth

ASGN has been the topic of a number of research reports. Bank Of America (Bofa) reissued an “underweight” rating and set a $70.00 price objective on shares of ASGN in a report on Monday, January 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $110.00 price objective on shares of ASGN in a research report on Wednesday, January 3rd. BMO Capital Markets upped their target price on shares of ASGN to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, January 10th. Jefferies Financial Group raised their price objective on ASGN to $88.00 and gave the company a “hold” rating in a research report on Wednesday, January 10th. Finally, UBS Group dropped their target price on shares of ASGN to $72.00 and set a “sell” rating on the stock in a research note on Friday, December 8th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $93.50.

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.