PRGX Global (PRGX) Lowered to Buy at ValuEngine

PRGX Global (NASDAQ:PRGX) was downgraded by ValuEngine from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

PRGX has been the topic of several other research reports. TheStreet raised shares of PRGX Global from a “c+” rating to a “b” rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of PRGX Global from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, January 2nd. Finally, B. Riley set a $12.00 target price on shares of PRGX Global and gave the stock a “buy” rating in a research note on Friday, November 2nd. Four investment analysts have rated the stock with a buy rating, PRGX Global presently has an average rating of “Buy” and an average target price of $12.00.

Shares of PRGX opened at $9.19 on Monday. The stock has a market cap of $218.46 million, a PE ratio of 43.76, a price-to-earnings-growth ratio of 2.42 and a beta of 0.46. PRGX Global has a 1 year low of $6.95 and a 1 year high of $10.30. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.80 and a current ratio of 1.80.

In other news, Director Matthew A. Drapkin bought 3,450 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The shares were purchased at an average cost of $8.79 per share, for a total transaction of $30,325.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased 38,450 shares of company stock worth $343,819 over the last 90 days. Insiders own 17.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Ramsey Quantitative Systems increased its stake in shares of PRGX Global by 110.4% during the third 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 during the period. Macquarie Group Ltd. increased its stake in shares of PRGX Global by 68.0% during the second 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 during the period. Rhumbline Advisers increased its stake in shares of PRGX Global by 53.3% during the fourth 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 during the period. Wells Fargo & Company MN increased its stake in shares of PRGX Global by 89.2% during the third quarter. Wells Fargo & Company MN now owns 43,663 shares of the business services provider’s stock worth $380,000 after buying an additional 20,582 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of PRGX Global by 352.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 49,800 shares of the business services provider’s stock worth $484,000 after buying an additional 38,800 shares during the period. Hedge funds and other institutional investors own 77.64% 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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