PRGX Global (NASDAQ:PRGX) Downgraded by ValuEngine

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ValuEngine downgraded 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. PRGX Global presently has a consensus rating of Hold and a consensus price target of $12.00.

Shares of PRGX stock opened at $5.31 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.97 and a quick ratio of 1.97. The stock has a market cap of $130.55 million, a PE ratio of 37.93 and a beta of 0.63. The stock has a 50-day moving average of $5.37 and a 200-day moving average of $6.88. PRGX Global has a one year low of $4.51 and a one year high of $9.68.

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

In other PRGX Global news, CEO Ronald E. Stewart acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average cost of $5.01 per share, for a total transaction of $50,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph E. Whitters acquired 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $5.97 per share, with a total value of $29,850.00. Following the completion of the transaction, the director now directly owns 130,653 shares in the company, valued at approximately $779,998.41. The disclosure for this purchase can be found here. Corporate insiders own 17.75% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its position in shares of PRGX Global by 0.3% in the 2nd quarter. BlackRock Inc. now owns 1,658,623 shares of the business services provider’s stock valued at $11,146,000 after purchasing an additional 5,683 shares during the period. Parametric Portfolio Associates LLC acquired a new position in shares of PRGX Global in the 2nd quarter valued at approximately $96,000. Northern Trust Corp grew its position in shares of PRGX Global by 1.3% in the 2nd quarter. Northern Trust Corp now owns 245,693 shares of the business services provider’s stock valued at $1,651,000 after purchasing an additional 3,138 shares during the period. Wells Fargo & Company MN grew its position in shares of PRGX Global by 44.4% in the 2nd quarter. Wells Fargo & Company MN now owns 81,153 shares of the business services provider’s stock valued at $545,000 after purchasing an additional 24,946 shares during the period. Finally, Teton Advisors Inc. grew its position in shares of PRGX Global by 2.5% in the 2nd quarter. Teton Advisors Inc. now owns 164,019 shares of the business services provider’s stock valued at $1,102,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds 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.

Further Reading: Mutual Funds

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