PRGX Global (NASDAQ:PRGX) Downgraded by ValuEngine

ValuEngine lowered shares of PRGX Global (NASDAQ:PRGX) from a buy rating to a hold rating in a research note released on Saturday, ValuEngine reports.

Separately, Zacks Investment Research cut PRGX Global from a hold rating to a strong sell rating in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $12.00.

PRGX opened at $5.31 on Friday. PRGX Global has a 1-year low of $4.51 and a 1-year high of $9.68. The stock’s fifty day simple moving average is $5.37 and its 200 day simple moving average is $6.88. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.69. The stock has a market cap of $130.55 million, a PE ratio of 37.93 and a beta of 0.63.

PRGX Global (NASDAQ:PRGX) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.13). PRGX Global had a net margin of 0.85% and a negative return on equity of 1.86%. The business had revenue of $41.97 million during the quarter, compared to the consensus estimate of $44.96 million. Equities analysts forecast that PRGX Global will post -0.03 earnings per share for the current year.

In other PRGX Global news, Director Joseph E. Whitters purchased 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were acquired at an average price of $5.97 per share, for a total transaction of $29,850.00. Following the purchase, the director now owns 130,653 shares in the company, valued at $779,998.41. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ronald E. Stewart purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average price of $5.01 per share, for a total transaction of $50,100.00. The disclosure for this purchase can be found here. 17.75% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA bought a new position in PRGX Global during the 1st quarter worth $35,000. Parametric Portfolio Associates LLC bought a new position in PRGX Global during the 2nd quarter worth $96,000. Bank of America Corp DE increased its position in PRGX Global by 20.2% during the 4th quarter. Bank of America Corp DE now owns 24,312 shares of the business services provider’s stock worth $230,000 after buying an additional 4,078 shares during the period. Martingale Asset Management L P bought a new position in PRGX Global during the 1st quarter worth $264,000. Finally, Wells Fargo & Company MN increased its position in PRGX Global by 44.4% during the 2nd quarter. Wells Fargo & Company MN now owns 81,153 shares of the business services provider’s stock worth $545,000 after buying an additional 24,946 shares during the period. Hedge funds and other institutional investors own 73.77% of the company’s stock.

PRGX Global Company Profile

PRGX Global, Inc, together with its subsidiaries, provides recovery audit services to businesses and government agencies having payment transactions and procurement environments worldwide. Its recovery audit services are based on the mining of clients' purchasing-related data for overpayments to the third-party suppliers.

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