Why ASGN (ASGN) Stock Is Trading Up Today

What Happened?

Shares of IT services provider ASGN (NYSE:ASGN) jumped 4.1% in the afternoon session after the company announced it would acquire IT services firm Quinnox for $290 million and reaffirmed its strong financial outlook for the fourth quarter of 2025. 

The deal to buy Quinnox, a digital solutions provider, was for $290 million in cash and was expected to close in March 2026. Quinnox was projected to bring in about $100 million in revenue for 2025 and was anticipated to boost ASGN's earnings per share in the first full year after the purchase. 

Adding to the positive news, ASGN confirmed that its fourth-quarter 2025 revenue and adjusted EBITDA were expected to hit the high end of their previously announced ranges. The company also disclosed it had repurchased 1.4 million of its own shares for $64.2 million during the quarter.

After the initial pop the shares cooled down to $50.69, up 4.4% from previous close.

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What Is The Market Telling Us

ASGN’s shares are somewhat volatile and have had 10 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

The biggest move we wrote about over the last year was 9 months ago when the stock dropped 15.3% on the news that the company reported weak first quarter 2025 results: EPS, EBITDA, and the outlook for all key financial metrics fell short. Sales were down nearly 8% year on year. Assignment work fell hard, and several commercial sectors just didn't hold up. Overall, this was a weaker quarter.

ASGN is up 8.6% since the beginning of the year, but at $50.69 per share, it is still trading 46% below its 52-week high of $93.96 from January 2025. Investors who bought $1,000 worth of ASGN’s shares 5 years ago would now be looking at an investment worth $567.17.

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