On Assignment (ASGN) Trading 0.4% Higher Following Analyst Upgrade

On Assignment, Inc. (NYSE:ASGN) traded up 0.4% during trading on Thursday after Wells Fargo & Co raised their price target on the stock from $75.00 to $85.00. Wells Fargo & Co currently has an outperform rating on the stock. On Assignment traded as high as $77.68 and last traded at $76.84. 230,864 shares were traded during trading, a decline of 10% from the average session volume of 255,849 shares. The stock had previously closed at $76.57.

A number of other equities research analysts have also recently commented on the stock. BMO Capital Markets increased their target price on shares of On Assignment from $73.00 to $82.00 and gave the company an “outperform” rating in a research report on Thursday. SunTrust Banks increased their target price on shares of On Assignment to $88.00 and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research raised shares of On Assignment from a “hold” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Wednesday, January 10th. ValuEngine raised shares of On Assignment from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $59.00 price target on shares of On Assignment in a report on Friday, October 27th. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $72.86.

In related news, Director Brian J. Callaghan sold 20,250 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $64.00, for a total transaction of $1,296,000.00. Following the completion of the transaction, the director now owns 392,930 shares of the company’s stock, valued at $25,147,520. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Edwin A. Sheridan sold 52,800 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $60.74, for a total transaction of $3,207,072.00. Following the transaction, the director now directly owns 1,191,332 shares of the company’s stock, valued at approximately $72,361,505.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,007 shares of company stock valued at $13,527,582. 5.40% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the stock. Parametrica Management Ltd purchased a new position in shares of On Assignment during the fourth quarter worth $265,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of On Assignment by 38.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,099 shares of the business services provider’s stock worth $199,000 after purchasing an additional 857 shares during the last quarter. Chicago Equity Partners LLC purchased a new position in shares of On Assignment during the fourth quarter worth $1,848,000. Peregrine Capital Management LLC raised its holdings in shares of On Assignment by 0.6% during the fourth quarter. Peregrine Capital Management LLC now owns 676,675 shares of the business services provider’s stock worth $43,490,000 after purchasing an additional 4,339 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in shares of On Assignment during the fourth quarter worth $31,994,000. 91.80% of the stock is owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.66, a current ratio of 2.57 and a quick ratio of 2.57. The company has a market cap of $3,582.79, a price-to-earnings ratio of 35.74, a PEG ratio of 2.05 and a beta of 2.12.

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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.

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