Asgn Inc Stock Price, News & Analysis

ASGN Incorporated (NYSE: ASGN) will host a virtual Investor & Analyst Day on September 14, 2021, from 9:00 a.m. ET to noon. The event will feature CEO Ted Hanson and senior management discussing the company's strategic vision, market opportunities, and long-term outlook. A live webcast will be available for attendees, with links and supporting materials accessible on the company's investor relations website. Following the event, a replay of the webcast will also be available.

ASGN Incorporated (NYSE: ASGN) has finalized the sale of its Oxford Global Resources unit to H.I.G. Capital for $525 million, yielding net proceeds of approximately $415 million after taxes. This strategic divestment aims to enhance ASGN's focus on its core IT and professional services in commercial and government sectors. The transaction involved legal and financial advisory from Sullivan & Cromwell LLP, William Blair, and Truist Securities for ASGN, with Ropes & Gray LLP and Wells Fargo Securities advising H.I.G. Capital.

ASGN Incorporated has announced the acquisition of Enterprise Resource Performance, Inc. (ERPi), a healthcare consulting firm with a team of 250 consultants. This acquisition aims to enhance ASGN's Enterprise Solutions unit within its Federal Government Segment. ERPi specializes in IT solutions and healthcare domain expertise for government entities. ASGN's CEO emphasized the strategic importance of ERPi's capabilities, particularly in supporting the U.S. healthcare sector. Additionally, ASGN is granting restricted stock units to ERPi employees as part of the acquisition.

ASGN reported substantial growth in Q2 2021, with revenues reaching $974.9 million, a 17.2% increase from Q2 2020. Income from continuing operations surged 31.7% to $57.3 million. The net income stood at $64.2 million, including $6.9 million from discontinued operations. Adjusted EBITDA rose to $119.3 million, representing 12.2% of revenues. ASGN agreed to sell its Oxford business for $525 million, expected to close in Q3 2021. Additionally, the company has made two acquisitions to enhance its service capabilities and repurchased $35 million worth of stock.

ASGN Incorporated (NYSE: ASGN) has announced the acquisition of IndraSoft Inc., a key provider of cybersecurity and digital transformation services for federal agencies. With a workforce of over 220 consultants, IndraSoft will enhance ASGN's ECS Missions Solutions division. This acquisition strengthens ASGN's footprint with major clients, including the U.S. Air Force and Army Intelligence. ASGN aims to accelerate growth in IT services and solutions, aligning with its strategy to target high-growth consulting businesses. Additionally, 16 IndraSoft employees will receive grants for approximately 52,000 shares of restricted stock.

ASGN Incorporated (NYSE: ASGN) will release its second quarter 2021 financial results on July 28, 2021, at 4:15 p.m. EDT, followed by a conference call at 4:30 p.m. EDT led by CEO Ted Hanson. The company's remarks will be available on its website beforehand. Investors can participate via phone, with a replay option available until August 11, 2021. ASGN provides IT and professional services across various sectors, striving to be a trusted partner for organizations needing skilled human capital and integrated solutions.

ASGN, a leading provider of IT and professional services, announced two major transactions: the sale of its Oxford Global Resources unit to H.I.G. Capital for $525 million and the acquisition of Avaap's Infor Business Unit for $86 million. The Oxford sale, which accounted for 11.6% of ASGN's revenues, will be reported as Discontinued Operations, and the net proceeds are expected to be approximately $400 million post-tax. Concurrently, ASGN revised its Q2 2021 guidance, projecting revenue growth of 15.4% to 16.6% and increased income estimates, reflecting improved operating performance.

ECS, part of ASGN, has been recognized as an AWS Managed Service Provider (MSP) Partner for the seventh consecutive year, showcasing its expertise in delivering cloud solutions using AWS technology. This designation follows a thorough third-party audit confirming ECS's operational excellence and commitment to supporting enterprises through the entire cloud adoption lifecycle. Additionally, ECS has retained its AWS Premier Consulting Partner status for six years. The company caters to diverse clients, including government agencies and Fortune 1000 firms, emphasizing reliable and secure cloud services.

ASGN Incorporated (NYSE: ASGN) announced the appointment of Maria R. Hawthorne to its Board of Directors, effective June 17, 2021. With over 35 years of expertise in financial strategies and operational leadership, Ms. Hawthorne previously served as President and CEO of PS Business Parks, Inc., where she achieved double-digit shareholder returns. Her experience includes enhancing corporate governance and digital transformation initiatives. ASGN also meets its goal of having at least three female directors by 2022 ahead of schedule with this appointment, strengthening its leadership team.