Information technology and professional services firm ASGN Inc. (ASGN) has acquired cybersecurity and digital transformation solutions provider IndraSoft, which offers its solutions to the Census Bureau, the Defense Information Systems Agency, Army Intelligence, and the U.S. Air Force.
ASGN provides professional services in the creative, digital and technology fields. (See ASGN stock chart on TipRanks)
Following the completion of the acquisition, IndraSoft’s team will be integrated into ASGN’s ECS Missions Solutions business unit.
The President of ECS at ASGN, George Wilson, said, “The acquisition of IndraSoft deepens our footprint at key customers, including the U.S. Air Force, Army Intelligence, DISA, and other defense agencies.”
BMO Capital analyst Jeffrey Silber recently maintained a Buy rating on ASGN with a price target of $121 (27.3% upside potential). For the third quarter, the analyst expects the company to report earnings per share (EPS) of $0.92.
Overall, the stock has a Moderate Buy consensus based on 2 Buys and 2 Holds. The average ASGN price target of $117.50 implies 23.6% upside potential. Shares have gained 39.4% over the past year.
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