Brokerages Set $8.00 Price Target for PRGX Global Inc (PRGX)

Shares of PRGX Global Inc (NASDAQ:PRGX) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.

Brokerages have set a 1-year consensus target price of $8.00 for the company and are anticipating that the company will post $0.14 EPS for the current quarter, according to Zacks. Zacks has also assigned PRGX Global an industry rank of 189 out of 265 based on the ratings given to its competitors.

A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of PRGX Global from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. B. Riley set a $8.00 target price on shares of PRGX Global and gave the company a “buy” rating in a research report on Tuesday, October 31st.

PRGX Global (PRGX) traded down $0.20 during trading on Friday, reaching $7.65. 9,677 shares of the company’s stock were exchanged, compared to its average volume of 16,356. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.25. PRGX Global has a 52 week low of $5.35 and a 52 week high of $8.00. The firm has a market cap of $172.44, a P/E ratio of -191.25 and a beta of 1.08.

In related news, SVP Tushar K. Sachdev sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $7.01, for a total value of $70,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew A. Drapkin purchased 25,042 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was purchased at an average price of $7.19 per share, for a total transaction of $180,051.98. The disclosure for this purchase can be found here. Insiders purchased a total of 71,942 shares of company stock worth $522,898 over the last quarter. 14.96% of the stock is currently owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of PRGX Global by 5.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 726,299 shares of the business services provider’s stock valued at $4,721,000 after acquiring an additional 34,620 shares during the period. Northern Right Capital Management L.P. raised its position in shares of PRGX Global by 13.0% in the 2nd quarter. Northern Right Capital Management L.P. now owns 1,507,806 shares of the business services provider’s stock valued at $9,801,000 after acquiring an additional 173,222 shares during the period. Thomson Horstmann & Bryant Inc. raised its position in shares of PRGX Global by 44.8% in the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 722,119 shares of the business services provider’s stock valued at $5,127,000 after acquiring an additional 223,379 shares during the period. Cadence Capital Management LLC raised its position in shares of PRGX Global by 5.1% in the 3rd quarter. Cadence Capital Management LLC now owns 248,838 shares of the business services provider’s stock valued at $1,742,000 after acquiring an additional 12,063 shares during the period. Finally, OxFORD Asset Management LLP raised its position in shares of PRGX Global by 74.7% in the 2nd quarter. OxFORD Asset Management LLP now owns 18,858 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 8,063 shares during the period. Institutional investors and hedge funds own 70.09% of the company’s stock.

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PRGX Global Company Profile

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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