Reinhart Partners LLC. Buys 78,794 Shares of ASGN Incorporated (NYSE:ASGN)

Reinhart Partners LLC. grew its stake in shares of ASGN Incorporated (NYSE:ASGN) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 665,987 shares of the business services provider’s stock after buying an additional 78,794 shares during the period. ASGN accounts for approximately 1.5% of Reinhart Partners LLC.’s portfolio, making the stock its 29th largest holding. Reinhart Partners LLC.’s holdings in ASGN were worth $41,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ASGN. J.Safra Asset Management Corp increased its position in shares of ASGN by 48.1% during the fourth quarter. J.Safra Asset Management Corp now owns 428 shares of the business services provider’s stock valued at $36,000 after buying an additional 139 shares during the period. Entropy Technologies LP bought a new position in shares of ASGN in the fourth quarter worth approximately $299,000. Cibc World Markets Corp bought a new position in shares of ASGN in the fourth quarter worth approximately $337,000. Pinebridge Investments L.P. increased its position in shares of ASGN by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 21,983 shares of the business services provider’s stock worth $1,832,000 after purchasing an additional 6,576 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of ASGN by 47,970.1% in the first quarter. GAMMA Investing LLC now owns 65,856 shares of the business services provider’s stock worth $41,500,000 after purchasing an additional 65,719 shares during the last quarter. 95.36% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ASGN. Truist Financial decreased their price objective on shares of ASGN from $105.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company began coverage on shares of ASGN in a research report on Tuesday. They issued an “equal weight” rating and a $56.00 price objective on the stock. Canaccord Genuity Group restated a “hold” rating and issued a $55.00 price objective (down from $115.00) on shares of ASGN in a research report on Friday, April 25th. Finally, UBS Group decreased their price objective on shares of ASGN from $56.00 to $54.00 and set a “sell” rating on the stock in a research report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, ASGN currently has a consensus rating of “Hold” and an average price target of $71.33.

ASGN Stock Up 1.3%

Shares of ASGN opened at $53.25 on Friday. The firm has a market cap of $2.34 billion, a P/E ratio of 13.87 and a beta of 1.00. The stock has a 50 day simple moving average of $55.75 and a two-hundred day simple moving average of $71.92. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.25 and a quick ratio of 2.25. ASGN Incorporated has a 1 year low of $47.64 and a 1 year high of $105.67.

ASGN (NYSE:ASGN) last issued its earnings results on Wednesday, April 23rd. The business services provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.03). The firm had revenue of $968.30 million during the quarter, compared to analysts’ expectations of $971.00 million. ASGN had a return on equity of 13.22% and a net margin of 4.27%. The firm’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 EPS. On average, analysts forecast that ASGN Incorporated will post 5.15 earnings per share for the current fiscal 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.