Performant Financial (NASDAQ:PFMT) Earns “Market Perform” Rating from William Blair

William Blair reissued their market perform rating on shares of Performant Financial (NASDAQ:PFMT) in a report released on Monday morning, Zacks.com reports.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Performant Financial from a sell rating to a hold rating in a report on Tuesday, July 16th. ValuEngine upgraded shares of Performant Financial from a hold rating to a buy rating in a report on Tuesday, July 2nd.

Performant Financial stock opened at $1.13 on Monday. The stock has a market capitalization of $64.39 million, a PE ratio of -3.53 and a beta of 0.19. Performant Financial has a twelve month low of $1.00 and a twelve month high of $2.86. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. The company has a 50 day moving average of $1.24 and a 200-day moving average of $1.71.

Performant Financial (NASDAQ:PFMT) last released its quarterly earnings results on Tuesday, August 13th. The business services provider reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02). The company had revenue of $35.83 million during the quarter, compared to analyst estimates of $36.20 million. Performant Financial had a negative net margin of 20.11% and a negative return on equity of 32.75%. Equities analysts anticipate that Performant Financial will post -0.34 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Wagner Bowman Management Corp bought a new stake in Performant Financial during the first quarter worth $26,000. Paloma Partners Management Co bought a new stake in Performant Financial during the second quarter worth $36,000. BlackRock Inc. raised its position in Performant Financial by 5.8% during the second quarter. BlackRock Inc. now owns 174,050 shares of the business services provider’s stock worth $183,000 after acquiring an additional 9,537 shares in the last quarter. Mirador Capital Partners LP raised its position in Performant Financial by 15.5% during the second quarter. Mirador Capital Partners LP now owns 192,445 shares of the business services provider’s stock worth $202,000 after acquiring an additional 25,762 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Performant Financial by 92.3% during the second quarter. Vanguard Group Inc. now owns 895,851 shares of the business services provider’s stock worth $941,000 after acquiring an additional 429,909 shares in the last quarter. 56.59% of the stock is currently owned by institutional investors and hedge funds.

Performant Financial Company Profile

Performant Financial Corporation provides technology-enabled audit, recovery, outsource customer, and related analytics services in the United States. The company offers recovery services primarily to the government-supported student loan industry serving guaranty agencies, private financial institutions, and the Department of Education; and restructures and recovers student loans issued directly by banks to students outside of federal lending programs.

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