On Assignment, Inc. (ASGN) Trading 6.3% Higher After Strong Earnings

Shares of On Assignment, Inc. (NASDAQ:ASGN) traded up 6.3% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $60.11 and last traded at $59.61. 1,059,532 shares were traded during mid-day trading, an increase of 274% from the average session volume of 283,157 shares. The stock had previously closed at $56.09.

The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.08. The firm had revenue of $667.05 million during the quarter, compared to analysts’ expectations of $660.90 million. On Assignment had a return on equity of 14.70% and a net margin of 5.09%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 EPS.



A number of analysts recently issued reports on the company. Robert W. Baird reissued a “hold” rating and issued a $53.00 target price on shares of On Assignment in a research report on Friday, October 6th. Zacks Investment Research raised On Assignment from a “sell” rating to a “hold” rating in a research report on Friday, September 15th. Royal Bank Of Canada reissued a “buy” rating on shares of On Assignment in a research report on Friday, October 20th. Deutsche Bank AG upped their target price on On Assignment from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Thursday. Finally, BidaskClub raised On Assignment from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. On Assignment currently has a consensus rating of “Buy” and a consensus target price of $56.80.

In other On Assignment news, insider Jeffrey E. Veatch sold 129,066 shares of the company’s stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $58.61, for a total transaction of $7,564,558.26. Following the completion of the sale, the insider now directly owns 364,202 shares of the company’s stock, valued at approximately $21,345,879.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey E. Veatch sold 1,520 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $56.01, for a total value of $85,135.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,282 shares of company stock valued at $14,741,882.

Institutional investors and hedge funds have recently bought and sold shares of the business. First Quadrant L P CA purchased a new position in shares of On Assignment during the 2nd quarter worth approximately $112,000. FNY Partners Fund LP raised its stake in shares of On Assignment by 266.2% during the 1st quarter. FNY Partners Fund LP now owns 2,197 shares of the company’s stock worth $106,000 after buying an additional 1,597 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of On Assignment by 9.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,242 shares of the company’s stock worth $121,000 after buying an additional 202 shares in the last quarter. Pitcairn Co. purchased a new position in shares of On Assignment during the 2nd quarter worth approximately $211,000. Finally, CIBC Asset Management Inc purchased a new position in shares of On Assignment during the 2nd quarter worth approximately $216,000.

The stock has a 50-day moving average price of $53.05 and a 200 day moving average price of $51.49. The firm has a market capitalization of $3.15 billion and a price-to-earnings ratio of 29.26.

WARNING: This piece of content was originally reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.dispatchtribunal.com/2017/10/27/on-assignment-inc-asgn-trading-6-3-higher-after-strong-earnings.html.

On Assignment Company Profile

On Assignment, Inc is a global provider of in-demand, skilled professionals in the technology, life sciences and creative sectors. The Company matches resumes with job descriptions to match people they know into positions they understand for temporary, contract-to-hire, and direct hire assignments. It operates through two segments.

Receive News & Ratings for On Assignment Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for On Assignment Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply