Essex Investment Management Co. LLC Decreases Stock Position in ASGN Inc (NYSE:ASGN)

Essex Investment Management Co. LLC reduced its position in ASGN Inc (NYSE:ASGN) by 15.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,211 shares of the business services provider’s stock after selling 11,636 shares during the quarter. Essex Investment Management Co. LLC owned approximately 0.12% of ASGN worth $4,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Municipal Employees Retirement System of Michigan boosted its holdings in shares of ASGN by 1.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 9,740 shares of the business services provider’s stock worth $590,000 after acquiring an additional 170 shares during the period. Private Capital Group LLC boosted its stake in ASGN by 47.2% during the second quarter. Private Capital Group LLC now owns 802 shares of the business services provider’s stock valued at $63,000 after buying an additional 257 shares during the period. Miles Capital Inc. boosted its stake in ASGN by 6.7% during the second quarter. Miles Capital Inc. now owns 4,608 shares of the business services provider’s stock valued at $279,000 after buying an additional 288 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in ASGN by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 21,271 shares of the business services provider’s stock valued at $1,289,000 after buying an additional 301 shares during the period. Finally, FDx Advisors Inc. boosted its stake in ASGN by 8.2% during the second quarter. FDx Advisors Inc. now owns 4,960 shares of the business services provider’s stock valued at $301,000 after buying an additional 378 shares during the period. 91.58% of the stock is owned by institutional investors and hedge funds.

Shares of ASGN stock opened at $60.76 on Wednesday. The company has a quick ratio of 2.14, a current ratio of 2.14 and a debt-to-equity ratio of 0.85. The business has a 50-day moving average price of $61.99 and a two-hundred day moving average price of $60.69. ASGN Inc has a 12-month low of $50.33 and a 12-month high of $71.83. The firm has a market cap of $3.25 billion, a P/E ratio of 13.87, a price-to-earnings-growth ratio of 1.47 and a beta of 1.94.

ASGN (NYSE:ASGN) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.09). ASGN had a return on equity of 19.56% and a net margin of 4.64%. The firm had revenue of $972.30 million for the quarter, compared to the consensus estimate of $972.24 million. During the same period last year, the firm earned $1.11 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts expect that ASGN Inc will post 4.59 EPS for the current fiscal year.

ASGN has been the subject of several research analyst reports. Zacks Investment Research lowered ASGN from a “hold” rating to a “sell” rating in a research note on Tuesday. SunTrust Banks dropped their price objective on ASGN to $84.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. ValuEngine raised ASGN from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. William Blair reissued an “outperform” rating on shares of ASGN in a research note on Friday, September 20th. Finally, Royal Bank of Canada set a $76.00 price target on ASGN and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $74.00.

ASGN Profile

ASGN Incorporated provides information technology (IT) and professional staffing services in the technology, digital, creative, engineering, and life sciences fields across commercial and government sectors in the United States and internationally. The company operates through Apex, Oxford, and ECS segments.

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Institutional Ownership by Quarter for ASGN (NYSE:ASGN)

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