ValuEngine Lowers PRGX Global (NASDAQ:PRGX) to Buy

ValuEngine cut shares of PRGX Global (NASDAQ:PRGX) from a strong-buy rating to a buy rating in a report issued on Monday, February 4th.

PRGX has been the subject of several other research reports. B. Riley set a $12.00 price target on shares of PRGX Global and gave the company a buy rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of PRGX Global from a strong sell rating to a hold rating and set a $10.00 price target for the company in a research report on Saturday, November 3rd. Finally, TheStreet upgraded shares of PRGX Global from a c+ rating to a b rating in a research report on Friday, November 2nd. Four investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of Buy and a consensus target price of $12.00.

Shares of NASDAQ:PRGX opened at $9.46 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.80 and a quick ratio of 1.80. The company has a market capitalization of $223.45 million, a P/E ratio of 45.05, a PEG ratio of 2.52 and a beta of 0.46. PRGX Global has a 52 week low of $7.57 and a 52 week high of $10.30.

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE lifted its position in PRGX Global by 20.2% in the 4th quarter. Bank of America Corp DE now owns 24,312 shares of the business services provider’s stock worth $230,000 after buying an additional 4,078 shares in the last quarter. Macquarie Group Ltd. lifted its position in PRGX Global by 68.0% in the 2nd quarter. Macquarie Group Ltd. now owns 15,790 shares of the business services provider’s stock worth $153,000 after buying an additional 6,390 shares in the last quarter. Ramsey Quantitative Systems lifted its position in PRGX Global by 110.4% in the 3rd quarter. Ramsey Quantitative Systems now owns 16,583 shares of the business services provider’s stock worth $144,000 after buying an additional 8,700 shares in the last quarter. Rhumbline Advisers lifted its position in PRGX Global by 53.3% in the 4th quarter. Rhumbline Advisers now owns 26,633 shares of the business services provider’s stock worth $252,000 after buying an additional 9,262 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in PRGX Global by 14.5% in the 4th quarter. Bank of New York Mellon Corp now owns 76,465 shares of the business services provider’s stock worth $725,000 after buying an additional 9,704 shares in the last quarter. Institutional investors own 77.10% 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. It operates through three segments: Recovery Audit Services – Americas, Recovery Audit Services – Europe/Asia-Pacific, and Adjacent Services.

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