Zacks Investment Research upgraded shares of PRGX Global, Inc. (NASDAQ:PRGX) from a hold rating to a buy rating in a research note published on Wednesday, October 25th. The brokerage currently has $8.25 price objective on the business services provider’s stock.
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 restated a buy rating and set a $8.00 price target on shares of PRGX Global in a report on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $7.00.
Shares of PRGX Global (NASDAQ:PRGX) opened at $7.25 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.59 and a quick ratio of 1.56. PRGX Global has a 52 week low of $4.85 and a 52 week high of $7.75.
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In related news, Director Matthew A. Drapkin bought 13,947 shares of PRGX Global stock in a transaction dated Tuesday, August 22nd. The shares were acquired at an average cost of $6.34 per share, with a total value of $88,423.98. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have bought 64,508 shares of company stock worth $408,206. Corporate insiders own 14.96% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its stake in PRGX Global by 1.0% in the first 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 in the last quarter. Northern Right Capital Management L.P. lifted its stake in shares of PRGX Global by 13.0% during the second quarter. Northern Right Capital Management L.P. now owns 1,507,806 shares of the business services provider’s stock worth $9,801,000 after buying an additional 173,222 shares during the period. Vanguard Group Inc. lifted its stake in shares of PRGX Global by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,183,504 shares of the business services provider’s stock worth $7,574,000 after buying an additional 13,531 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of PRGX Global by 5.0% during the second quarter. Dimensional Fund Advisors LP now owns 726,299 shares of the business services provider’s stock worth $4,721,000 after buying an additional 34,620 shares during the period. Finally, Thomson Horstmann & Bryant Inc. lifted its stake in shares of PRGX Global by 33.6% during the third quarter. Thomson Horstmann & Bryant Inc. now owns 498,740 shares of the business services provider’s stock worth $3,491,000 after buying an additional 125,398 shares during the period. Institutional investors 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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