LRI Investments LLC Makes New Investment in ASGN Incorporated (NYSE:ASGN)

LRI Investments LLC purchased a new position in ASGN Incorporated (NYSE:ASGN) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,556 shares of the business services provider’s stock, valued at approximately $154,000.

Several other institutional investors have also modified their holdings of ASGN. Argent Capital Management LLC grew its stake in shares of ASGN by 8.9% during the fourth quarter. Argent Capital Management LLC now owns 5,917 shares of the business services provider’s stock worth $569,000 after purchasing an additional 484 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of ASGN by 0.9% during the first quarter. Reinhart Partners LLC. now owns 548,300 shares of the business services provider’s stock worth $57,440,000 after purchasing an additional 4,931 shares in the last quarter. Finally, Meadow Creek Wealth Advisors LLC acquired a new position in shares of ASGN during the first quarter worth $512,000. Institutional investors and hedge funds own 95.36% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on ASGN shares. Robert W. Baird boosted their target price on shares of ASGN from $99.00 to $104.00 and gave the stock a “neutral” rating in a research note on Thursday, April 25th. Canaccord Genuity Group restated a “buy” rating and issued a $115.00 price objective on shares of ASGN in a research note on Thursday. Finally, BMO Capital Markets decreased their price objective on shares of ASGN from $95.00 to $94.00 and set a “market perform” rating for the company in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $97.22.

Insider Activity

In related news, Director Carol Lindstrom sold 1,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $97.04, for a total transaction of $97,040.00. Following the completion of the transaction, the director now directly owns 5,639 shares of the company’s stock, valued at $547,208.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other ASGN news, President Randolph C. Blazer sold 6,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $98.00, for a total value of $588,000.00. Following the completion of the transaction, the president now directly owns 101,923 shares of the company’s stock, valued at $9,988,454. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carol Lindstrom sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $97.04, for a total transaction of $97,040.00. Following the completion of the sale, the director now owns 5,639 shares in the company, valued at $547,208.56. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

ASGN Stock Performance

Shares of NYSE:ASGN traded up $2.09 on Friday, reaching $94.86. The company’s stock had a trading volume of 378,067 shares, compared to its average volume of 393,796. The stock’s 50-day moving average is $92.85 and its two-hundred day moving average is $96.00. ASGN Incorporated has a 52-week low of $75.85 and a 52-week high of $106.42. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.51 and a quick ratio of 2.51. The stock has a market capitalization of $4.35 billion, a P/E ratio of 21.96, a PEG ratio of 7.98 and a beta of 1.40.

ASGN (NYSE:ASGN) last announced its earnings results on Wednesday, July 24th. The business services provider reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.03. ASGN had a net margin of 4.56% and a return on equity of 14.30%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the company earned $1.59 earnings per share. The business’s revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts forecast that ASGN Incorporated will post 5.18 EPS for the current year.

ASGN 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.