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.
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.
WARNING: This report was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://stocknewstimes.com/2018/01/12/prgx-global-inc-prgx-expected-to-post-quarterly-sales-of-45-31-million.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for PRGX Global Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRGX Global and related companies with MarketBeat.com's FREE daily email newsletter.