BlackRock Inc. Trims Stake in On Assignment, Inc. (ASGN)
BlackRock Inc. trimmed its stake in shares of On Assignment, Inc. (NASDAQ:ASGN) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,839,641 shares of the company’s stock after selling 63,195 shares during the period. BlackRock Inc. owned approximately 11.06% of On Assignment worth $316,217,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in On Assignment by 124.0% in the second quarter. Principal Financial Group Inc. now owns 849,237 shares of the company’s stock valued at $45,986,000 after buying an additional 470,054 shares during the period. Oak Ridge Investments LLC acquired a new position in shares of On Assignment during the 2nd quarter worth about $23,633,000. Vanguard Group Inc. grew its position in shares of On Assignment by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 4,386,740 shares of the company’s stock worth $212,888,000 after buying an additional 334,094 shares during the period. Columbus Circle Investors grew its position in shares of On Assignment by 94.8% during the 2nd quarter. Columbus Circle Investors now owns 550,322 shares of the company’s stock worth $29,800,000 after buying an additional 267,769 shares during the period. Finally, Pathstone Family Office LLC grew its position in shares of On Assignment by 315.6% during the 1st quarter. Pathstone Family Office LLC now owns 338,127 shares of the company’s stock worth $16,409,000 after buying an additional 256,772 shares during the period.
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A number of brokerages have recently commented on ASGN. Zacks Investment Research raised On Assignment from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research note on Tuesday, June 13th. BidaskClub raised shares of On Assignment from a “hold” rating to a “buy” rating in a research note on Thursday, September 21st. Robert W. Baird reaffirmed a “hold” rating and issued a $53.00 target price on shares of On Assignment in a research note on Sunday, September 3rd. Finally, BMO Capital Markets increased their target price on shares of On Assignment from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $55.67.
Shares of On Assignment, Inc. (NASDAQ:ASGN) opened at 53.68 on Monday. On Assignment, Inc. has a 1-year low of $32.04 and a 1-year high of $55.53. The company has a market capitalization of $2.83 billion and a PE ratio of 26.35. The company’s 50-day moving average price is $47.69 and its 200-day moving average price is $50.10.
On Assignment (NASDAQ:ASGN) last released its earnings results on Wednesday, July 26th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The business had revenue of $653.31 million during the quarter, compared to analysts’ expectations of $655.96 million. On Assignment had a return on equity of 14.70% and a net margin of 5.09%. The firm’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 earnings per share. On average, equities analysts expect that On Assignment, Inc. will post $2.86 earnings per share for the current fiscal year.
On Assignment Company Profile
On Assignment, Inc is a global provider of in-demand, skilled professionals in the technology, life sciences and creative sectors. The Company matches resumes with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. It operates through two segments.
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