ASGN (NYSE:ASGN) Stock Price Down 5.1% – What’s Next?

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

Analyst Upgrades and Downgrades

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

ASGN Trading Down 4.8 %

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 stock has a market cap of $3.92 billion, a P/E ratio of 22.47 and a beta of 1.38. The stock has a 50-day moving average price of $88.05 and a 200-day moving average price of $91.75.

Insider Buying and Selling at ASGN

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ASGN. Cim Investment Management Inc. purchased a new stake in ASGN during the 3rd quarter valued at about $205,000. Entropy Technologies LP purchased a new stake in shares of ASGN during the fourth quarter valued at approximately $299,000. Crossmark Global Holdings Inc. boosted its stake in shares of 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 purchasing an additional 800 shares during the period. Argent Capital Management LLC grew its holdings in shares of ASGN by 12.1% in the third 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 during the last quarter. Finally, Handelsbanken Fonder AB increased its stake 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 worth $1,102,000 after buying an additional 2,600 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

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.