Chicago Equity Partners LLC Acquires New Position in ASGN Inc (ASGN)
Chicago Equity Partners LLC acquired a new position in ASGN Inc (NYSE:ASGN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 18,753 shares of the business services provider’s stock, valued at approximately $1,466,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Mercantile Trust Co. purchased a new stake in shares of ASGN during the second quarter worth about $113,000. Victory Capital Management Inc. purchased a new stake in shares of ASGN during the second quarter worth about $132,000. Winslow Evans & Crocker Inc. purchased a new stake in shares of ASGN during the second quarter worth about $154,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of ASGN during the second quarter worth about $158,000. Finally, Trexquant Investment LP purchased a new stake in shares of ASGN during the second quarter worth about $201,000. 91.68% of the stock is currently owned by hedge funds and other institutional investors.
ASGN has been the subject of several research analyst reports. ValuEngine cut ASGN from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 1st. Zacks Investment Research cut ASGN from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Robert W. Baird reiterated a “neutral” rating on shares of ASGN in a research report on Thursday, July 26th. Finally, Credit Suisse Group initiated coverage on ASGN in a research report on Friday, August 10th. They set a “neutral” rating and a $92.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $84.00.
ASGN (NYSE:ASGN) last released its quarterly earnings results on Wednesday, July 25th. The business services provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.06. The business had revenue of $878.50 million during the quarter, compared to analysts’ expectations of $865.03 million. ASGN had a return on equity of 19.07% and a net margin of 5.67%. The firm’s revenue for the quarter was up 34.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. research analysts forecast that ASGN Inc will post 4.14 EPS for the current fiscal year.
In other ASGN news, CFO Edward L. Pierce sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $90.77, for a total transaction of $2,269,250.00. Following the completion of the transaction, the chief financial officer now owns 56,584 shares in the company, valued at approximately $5,136,129.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeremy M. Jones sold 1,278 shares of the firm’s stock in a transaction that occurred on Friday, August 3rd. The shares were sold at an average price of $92.05, for a total value of $117,639.90. Following the transaction, the director now owns 408 shares of the company’s stock, valued at approximately $37,556.40. The disclosure for this sale can be found here. Insiders have sold a total of 50,687 shares of company stock valued at $4,630,186 in the last 90 days. 3.90% of the stock is currently owned by company insiders.
ASGN Incorporated provides IT and professional services in the technology, digital, creative, healthcare technology, engineering, life sciences, and government sectors in the United States, Europe, and Canada. The company's Apex segment offers technical, digital, and creative and scientific professionals for contract, contract-to-hire, and permanent placement positions to Fortune 1000 and mid-market clients; IT staffing and consulting services comprising IT infrastructure, application development, project management, and healthcare IT professionals; and creative, marketing, advertising, and digital professionals.
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