PRGX Global, Inc. (PRGX) Given a $8.00 Price Target at B. Riley
PRGX Global, Inc. (NASDAQ:PRGX) has been given a $8.00 target price by equities research analysts at B. Riley in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the business services provider’s stock. B. Riley’s price objective suggests a potential upside of 3.90% from the company’s current price.
Separately, Zacks Investment Research downgraded PRGX Global from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $7.06.
PRGX Global (PRGX) opened at 7.70 on Tuesday. PRGX Global has a 12 month low of $4.45 and a 12 month high of $7.75. The firm’s market capitalization is $172.37 million. The company’s 50-day moving average price is $7.02 and its 200 day moving average price is $6.56.
PRGX Global (NASDAQ:PRGX) last announced its earnings results on Tuesday, August 1st. The business services provider reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.06. PRGX Global had a positive return on equity of 0.30% and a negative net margin of 0.55%. The firm had revenue of $38.51 million for the quarter, compared to the consensus estimate of $37.06 million. On average, equities research analysts predict that PRGX Global will post $0.10 earnings per share for the current year.
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In other news, major shareholder Strategic Opportunit Headlands acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were acquired at an average price of $6.16 per share, for a total transaction of $61,600.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew A. Drapkin acquired 13,947 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was purchased at an average price of $6.34 per share, for a total transaction of $88,423.98. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 95,510 shares of company stock worth $598,368. 14.96% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Credit Agricole S A bought a new stake in PRGX Global during the 1st quarter valued at $296,000. Vanguard Group Inc. raised its holdings in PRGX Global by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,183,504 shares of the business services provider’s stock valued at $7,574,000 after acquiring an additional 13,531 shares during the period. Dimensional Fund Advisors LP raised its holdings in PRGX Global by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 691,679 shares of the business services provider’s stock valued at $4,427,000 after acquiring an additional 3,993 shares during the period. Renaissance Technologies LLC raised its holdings in PRGX Global by 1.0% during the 1st quarter. Renaissance Technologies LLC now owns 1,667,810 shares of the business services provider’s stock valued at $10,674,000 after acquiring an additional 17,320 shares during the period. Finally, Thomson Horstmann & Bryant Inc. bought a new stake in PRGX Global during the 2nd quarter valued at $2,426,000. Institutional investors and hedge funds own 71.01% of the company’s stock.
About PRGX Global
PRGX Global, Inc (PRGX), together with its subsidiaries, provides recovery audit and spend analytics services. The Company provides recovery audit, procure-to-pay performance improvement, spend analytics and risk management services principally to large businesses and government agencies. The Company operates through three segments: Recovery Audit Services-Americas, Recovery Audit Services-Europe/Asia-Pacific and Adjacent Services.
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