PRGX Global Inc (PRGX) Expected to Announce Quarterly Sales of $45.31 Million
Wall Street analysts expect that PRGX Global Inc (NASDAQ:PRGX) will report sales of $45.31 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for PRGX Global’s earnings, with the lowest sales estimate coming in at $45.00 million and the highest estimate coming in at $45.62 million. PRGX Global posted sales of $39.18 million in the same quarter last year, which would indicate 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.
On average, 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 anticipate that the company will post sales of $168.50 million per share, with estimates ranging from $167.00 million to $170.00 million. Zacks’ sales averages are an average based on a survey of research firms that cover PRGX Global.
PRGX has been the topic of a number of recent research reports. Zacks Investment Research upgraded PRGX Global from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Wednesday, October 25th. 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. PRGX Global has an average rating of “Buy” and a consensus target price of $7.00.
In other PRGX Global news, Director Matthew A. Drapkin bought 11,900 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The stock was acquired at an average price of $7.34 per share, with a total value of $87,346.00. Following the completion of the transaction, the director now directly owns 133,153 shares in the company, valued at approximately $977,343.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Tushar K. Sachdev sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $7.01, for a total value of $70,100.00. The disclosure for this sale can be found here. Insiders purchased a total of 71,942 shares of company stock worth $522,898 over the last 90 days. Insiders own 14.96% of the company’s stock.
Several institutional investors have recently modified their holdings of PRGX. Tower Research Capital LLC TRC boosted its position in shares of PRGX Global by 161.4% in the second quarter. Tower Research Capital LLC TRC now owns 18,999 shares of the business services provider’s stock worth $123,000 after buying an additional 11,730 shares during the period. OxFORD Asset Management LLP boosted its position in shares of PRGX Global by 74.7% in the second quarter. OxFORD Asset Management LLP now owns 18,858 shares of the business services provider’s stock worth $123,000 after buying an additional 8,063 shares during the period. GSA Capital Partners LLP boosted its position in shares of PRGX Global by 3.7% in the second quarter. GSA Capital Partners LLP now owns 44,014 shares of the business services provider’s stock worth $286,000 after buying an additional 1,584 shares during the period. Cadence Capital Management LLC boosted its position in shares of 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 worth $1,742,000 after buying an additional 12,063 shares during the period. Finally, Thomson Horstmann & Bryant Inc. boosted its position in shares of 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 worth $3,491,000 after buying an additional 125,398 shares during the period. 70.09% of the stock is owned by institutional investors and hedge funds.
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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