According to Zacks, “PRGX Global, Inc., formerly PRG-Schultz International, Inc., provides audit, analytics, and advisory services in order to improve client financial performance. The Company’s recovery audit services comprise taking client transaction data, transforming it for analysis, identification of errors, and working with vendors or providers to recover overpaid cash. It audits merchandise purchases, accounts payable, lease and property payments, telecom, freight, marketing and media expenses, taxes, import duties, and healthcare claims. The Company’s analytics services include fraud detection and prevention services, such as detecting, deterring, and preventing fraud; custom analytics services, including discovering the value of unstructured data; benchmarking services; and spend analytic services. Its advisory services consist of working capital optimization, enterprise cost reduction, finance transformation, and corporate performance management. The Company is headquartered in Atlanta, Georgia. “
A number of other equities analysts also recently issued reports on PRGX. TheStreet downgraded PRGX Global from a b rating to a c rating in a research note on Wednesday, May 1st. Barrington Research reiterated a buy rating and set a $13.00 target price on shares of PRGX Global in a research report on Monday, April 29th. Finally, ValuEngine downgraded PRGX Global from a buy rating to a hold rating in a research report on Wednesday, May 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. PRGX Global has an average rating of Hold and a consensus price target of $12.00.
PRGX Global (NASDAQ:PRGX) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.13). The firm had revenue of $41.97 million during the quarter, compared to analysts’ expectations of $44.96 million. PRGX Global had a negative return on equity of 1.83% and a net margin of 0.85%. Sell-side analysts expect that PRGX Global will post -0.03 earnings per share for the current year.
In related news, Director Matthew A. Drapkin bought 5,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of $7.48 per share, for a total transaction of $37,400.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 19,000 shares of company stock worth $133,580 over the last quarter. 17.75% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC raised its holdings in PRGX Global by 18.3% during the first quarter. Wedge Capital Management L L P NC now owns 102,722 shares of the business services provider’s stock valued at $814,000 after acquiring an additional 15,885 shares during the period. BlackRock Inc. raised its holdings in PRGX Global by 0.8% during the fourth quarter. BlackRock Inc. now owns 1,694,213 shares of the business services provider’s stock valued at $16,043,000 after acquiring an additional 13,111 shares during the period. Bank of America Corp DE raised its holdings in PRGX Global by 20.2% during the fourth quarter. Bank of America Corp DE now owns 24,312 shares of the business services provider’s stock valued at $230,000 after acquiring an additional 4,078 shares during the period. Bank of New York Mellon Corp raised its holdings in PRGX Global by 14.5% during the fourth quarter. Bank of New York Mellon Corp now owns 76,465 shares of the business services provider’s stock valued at $725,000 after acquiring an additional 9,704 shares during the period. Finally, Martingale Asset Management L P bought a new stake in PRGX Global during the first quarter valued at about $264,000. 75.35% of the stock is currently owned by institutional investors and hedge funds.
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 worldwide. Its recovery audit services are based on the mining of clients' purchasing-related data for overpayments to the third-party suppliers.
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