ASGN (NYSE:ASGN) Stock Price Down 5.1% – Should You Sell?

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

Analyst Ratings Changes

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

ASGN Stock Down 0.6 %

The company’s 50-day simple moving average is $88.11 and its 200 day simple moving average is $91.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. The firm has a market cap of $3.90 billion, a P/E ratio of 22.36 and a beta of 1.38.

Insiders Place Their Bets

In related news, CEO Theodore S. Hanson sold 1,200 shares of ASGN stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total transaction of $119,568.00. Following the completion of the transaction, the chief executive officer now directly owns 288,855 shares of the company’s stock, valued at approximately $28,781,512.20. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by insiders.

Institutional Trading of ASGN

Several institutional investors have recently added to or reduced their stakes in ASGN. Argent Capital Management LLC raised its holdings in shares of ASGN by 31.6% in the fourth quarter. Argent Capital Management LLC now owns 13,898 shares of the business services provider’s stock worth $1,158,000 after buying an additional 3,339 shares during the period. Reinhart Partners LLC. increased its stake in ASGN by 7.2% in the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock worth $54,912,000 after purchasing an additional 39,607 shares during the period. Crossmark Global Holdings Inc. lifted its position 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 worth $505,000 after purchasing an additional 800 shares during the last quarter. Handelsbanken Fonder AB boosted its stake in shares of ASGN by 28.2% during the third quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock valued at $1,102,000 after purchasing an additional 2,600 shares during the period. Finally, Cim Investment Management Inc. bought a new position in shares of ASGN in the third quarter worth about $205,000. Institutional investors own 95.36% of the company’s stock.

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.