ASGN (NYSE:ASGN) Share Price Crosses Below 200-Day Moving Average – What’s Next?

Shares of ASGN Incorporated (NYSE:ASGN) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $91.73 and traded as low as $91.66. ASGN shares last traded at $93.97, with a volume of 263,798 shares trading hands.

Analysts Set New Price Targets

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

ASGN Stock Performance

The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 23.79 and a beta of 1.38. 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 stock has a 50-day moving average of $87.54 and a 200 day moving average of $91.73.

Insider Transactions at ASGN

In other ASGN news, CEO Theodore S. Hanson sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $99.64, for a total value of $119,568.00. Following the transaction, the chief executive officer now directly owns 288,855 shares of the company’s stock, valued at approximately $28,781,512.20. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cim Investment Management Inc. acquired a new position in ASGN in the third quarter valued at about $205,000. Crossmark Global Holdings Inc. increased its stake in shares of ASGN by 17.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,414 shares of the business services provider’s stock valued at $505,000 after acquiring an additional 800 shares during the last quarter. Argent Capital Management LLC raised its position in shares of ASGN by 12.1% in the 3rd quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider’s stock valued at $984,000 after acquiring an additional 1,142 shares during the period. Handelsbanken Fonder AB boosted its stake in ASGN by 28.2% during the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider’s stock worth $1,102,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Reinhart Partners LLC. grew its holdings in ASGN by 7.2% during the third quarter. Reinhart Partners LLC. now owns 588,999 shares of the business services provider’s stock valued at $54,912,000 after purchasing an additional 39,607 shares during the period. 95.36% of the stock is currently owned by institutional investors.

About ASGN

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.