PRGX Global Inc (PRGX) Expected to Post Quarterly Sales of $45.31 Million

Wall Street analysts forecast that PRGX Global Inc (NASDAQ:PRGX) will post $45.31 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for PRGX Global’s earnings. The lowest sales estimate is $45.00 million and the highest is $45.62 million. PRGX Global reported sales of $39.18 million during the same quarter last year, which indicates a positive year over year growth rate of 15.6%. The company is expected to announce its next quarterly earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that PRGX Global will report full-year sales of $45.31 million for the current fiscal year, with estimates ranging from $159.55 million to $160.17 million. For the next year, analysts forecast that the firm will post sales of $168.50 million per share, with estimates ranging from $167.00 million to $170.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow PRGX Global.

Several brokerages have recently commented on PRGX. Zacks Investment Research upgraded PRGX Global from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Wednesday, November 8th. B. Riley set a $8.00 target price on PRGX Global and gave the stock a “buy” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. PRGX Global has a consensus rating of “Buy” and an average target price of $7.00.

PRGX Global (NASDAQ:PRGX) opened at $7.10 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.59 and a current ratio of 1.59. The stock has a market capitalization of $159.00, a price-to-earnings ratio of -177.50 and a beta of 1.08. PRGX Global has a 12 month low of $5.35 and a 12 month high of $7.90.

In related news, SVP Tushar K. Sachdev sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $7.01, for a total value of $70,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew A. Drapkin purchased 25,042 shares of the firm’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 have bought 71,942 shares of company stock worth $522,898 in the last 90 days. Company insiders own 14.96% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PRGX. Northern Right Capital Management L.P. boosted its holdings in PRGX Global by 13.0% in the second 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 last quarter. Thomson Horstmann & Bryant Inc. boosted its holdings in PRGX Global by 33.6% in the third quarter. Thomson Horstmann & Bryant Inc. now owns 498,740 shares of the business services provider’s stock valued at $3,491,000 after acquiring an additional 125,398 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in PRGX Global by 5.0% in the second 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 last quarter. Vanguard Group Inc. boosted its holdings in PRGX Global by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,183,504 shares of the business services provider’s stock valued at $7,574,000 after acquiring an additional 13,531 shares during the last quarter. Finally, Cadence Capital Management LLC boosted its holdings in PRGX Global by 5.1% in the third 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 last quarter. 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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Earnings History and Estimates for PRGX Global (NASDAQ:PRGX)

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