PRGX Global Inc. (PRGX) Rating Increased to Hold at Zacks Investment Research
PRGX Global Inc. (NASDAQ:PRGX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “PRGX Global, Inc., formerly PRG-Schultz International, Inc., provides audit, analytics, and advisory services in order to improve client financial performance. The Company’s recovery audit services comprise taking client transaction data, transforming it for analysis, identification of errors, and working with vendors or providers to recover overpaid cash. It audits merchandise purchases, accounts payable, lease and property payments, telecom, freight, marketing and media expenses, taxes, import duties, and healthcare claims. The Company’s analytics services include fraud detection and prevention services, such as detecting, deterring, and preventing fraud; custom analytics services, including discovering the value of unstructured data; benchmarking services; and spend analytic services. Its advisory services consist of working capital optimization, enterprise cost reduction, finance transformation, and corporate performance management. The Company is headquartered in Atlanta, Georgia. “
Separately, B. Riley reiterated a “buy” rating and set a $6.25 price objective on shares of PRGX Global in a research report on Monday, July 25th.
Shares of PRGX Global (NASDAQ:PRGX) opened at 4.68 on Wednesday. PRGX Global has a 12-month low of $3.04 and a 12-month high of $5.81. The company’s market capitalization is $102.17 million. The company’s 50-day moving average is $4.83 and its 200-day moving average is $4.91.
PRGX Global (NASDAQ:PRGX) last released its quarterly earnings data on Tuesday, July 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by $0.09. PRGX Global had a negative net margin of 1.85% and a positive return on equity of 5.58%. Analysts predict that PRGX Global will post $0.07 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. HCSF Management LLC boosted its stake in PRGX Global by 22.0% in the second quarter. HCSF Management LLC now owns 2,773,766 shares of the company’s stock valued at $14,479,000 after buying an additional 500,000 shares during the last quarter. Eagle Global Advisors LLC boosted its stake in PRGX Global by 163.7% in the second quarter. Eagle Global Advisors LLC now owns 65,933 shares of the company’s stock valued at $344,000 after buying an additional 40,932 shares during the last quarter. Cannell Capital LLC bought a new stake in PRGX Global during the second quarter valued at about $124,000. Algert Global LLC bought a new stake in PRGX Global during the second quarter valued at about $125,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in PRGX Global by 1,592.9% in the second quarter. O Shaughnessy Asset Management LLC now owns 37,498 shares of the company’s stock valued at $196,000 after buying an additional 35,283 shares during the last quarter. Hedge funds and other institutional investors own 70.14% 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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