California Public Employees Retirement System Has $2.46 Million Position in Resources Connection, Inc. (RECN)

California Public Employees Retirement System increased its position in shares of Resources Connection, Inc. (NASDAQ:RECN) by 7.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,887 shares of the business services provider’s stock after acquiring an additional 11,802 shares during the period. California Public Employees Retirement System owned about 0.59% of Resources Connection worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RECN. Grandeur Peak Global Advisors LLC boosted its position in shares of Resources Connection by 649.0% during the 3rd quarter. Grandeur Peak Global Advisors LLC now owns 179,000 shares of the business services provider’s stock worth $2,488,000 after acquiring an additional 155,100 shares in the last quarter. Royce & Associates LP boosted its position in shares of Resources Connection by 6.4% during the 3rd quarter. Royce & Associates LP now owns 2,525,499 shares of the business services provider’s stock worth $35,104,000 after acquiring an additional 151,760 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Resources Connection by 50.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 233,161 shares of the business services provider’s stock worth $3,195,000 after acquiring an additional 77,780 shares in the last quarter. AXA acquired a new stake in Resources Connection in the second quarter valued at approximately $1,062,000. Finally, Sapience Investments LLC boosted its position in Resources Connection by 16.6% in the second quarter. Sapience Investments LLC now owns 524,984 shares of the business services provider’s stock valued at $7,192,000 after buying an additional 74,930 shares in the last quarter. Institutional investors and hedge funds own 77.77% of the company’s stock.

Shares of Resources Connection, Inc. (NASDAQ:RECN) opened at $16.45 on Thursday. Resources Connection, Inc. has a 52-week low of $12.05 and a 52-week high of $17.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.36 and a quick ratio of 2.36. The firm has a market cap of $520.82, a P/E ratio of 28.36 and a beta of 1.18.

Resources Connection (NASDAQ:RECN) last issued its earnings results on Wednesday, January 3rd. The business services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Resources Connection had a net margin of 2.98% and a return on equity of 8.25%. The firm had revenue of $156.70 million for the quarter, compared to analyst estimates of $152.91 million. During the same quarter last year, the business posted $0.26 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. equities research analysts expect that Resources Connection, Inc. will post 0.83 EPS for the current fiscal year.

A number of analysts have weighed in on RECN shares. Zacks Investment Research upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Deutsche Bank restated a “sell” rating and issued a $13.00 target price (up previously from $12.00) on shares of Resources Connection in a research report on Friday, October 6th. Robert W. Baird restated a “hold” rating and issued a $15.00 target price on shares of Resources Connection in a research report on Friday, October 6th. BidaskClub lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, JPMorgan Chase & Co. lowered shares of Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 target price on the stock. in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.50.

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About Resources Connection

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

Institutional Ownership by Quarter for Resources Connection (NASDAQ:RECN)

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