ASGN (NYSE:ASGN) Shares Pass Below 200 Day Moving Average - Time to Sell?

Shares of ASGN Incorporated (NYSE:ASGN - Get Free Report) 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.

Analyst Upgrades and Downgrades

A number of research firms have commented on ASGN. StockNews.com lowered ASGN from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Canaccord Genuity Group reiterated a "buy" rating and set a $115.00 price target on shares of ASGN in a research report on Thursday, October 24th. Finally, BMO Capital Markets upgraded shares of ASGN from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $96.00 to $100.00 in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $101.75.

ASGN Stock Down 0.6 %

The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 22.39 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 firm has a 50 day moving average price of $88.05 and a 200-day moving average price of $91.75.

Insider Activity at ASGN

In related news, CEO Theodore S. Hanson sold 1,200 shares of the 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 sale, the chief executive officer now directly owns 288,855 shares in the company, valued at $28,781,512.20. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ASGN

Large investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. boosted 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 buying an additional 800 shares during the period. Argent Capital Management LLC boosted its holdings in ASGN by 12.1% during the third quarter. Argent Capital Management LLC now owns 10,559 shares of the business services provider's stock worth $984,000 after purchasing an additional 1,142 shares during the last quarter. Cim Investment Management Inc. bought a new position in ASGN in the third quarter valued at $205,000. Handelsbanken Fonder AB increased its stake in ASGN by 28.2% in the 3rd quarter. Handelsbanken Fonder AB now owns 11,823 shares of the business services provider's stock valued at $1,102,000 after buying an additional 2,600 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in ASGN during the 4th quarter worth about $299,000. 95.36% of the stock is currently owned by institutional investors.

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.