Performant Financial (NASDAQ:PFMT) was upgraded by stock analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Friday.

Separately, Zacks Investment Research cut shares of Performant Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd.

Shares of Performant Financial (NASDAQ:PFMT) traded up $0.01 on Friday, reaching $1.81. 24,592 shares of the company’s stock traded hands, compared to its average volume of 55,305. Performant Financial has a 52 week low of $1.50 and a 52 week high of $3.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.17.

Performant Financial (NASDAQ:PFMT) last announced its earnings results on Tuesday, November 7th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.08). Performant Financial had a negative return on equity of 15.46% and a negative net margin of 19.27%. The business had revenue of $29.70 million for the quarter, compared to analyst estimates of $31.45 million. During the same period last year, the firm earned $0.02 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. analysts forecast that Performant Financial will post -0.25 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in PFMT. Mirador Capital Partners LP boosted its stake in Performant Financial by 161.9% during the 2nd quarter. Mirador Capital Partners LP now owns 50,876 shares of the business services provider’s stock worth $103,000 after purchasing an additional 31,447 shares during the last quarter. 22NW LP boosted its position in shares of Performant Financial by 2.5% during the 3rd quarter. 22NW LP now owns 1,149,038 shares of the business services provider’s stock valued at $2,091,000 after acquiring an additional 28,533 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Performant Financial by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,118,758 shares of the business services provider’s stock valued at $3,278,000 after acquiring an additional 9,968 shares during the last quarter. Sterling Capital Management LLC boosted its position in shares of Performant Financial by 2.0% during the 2nd quarter. Sterling Capital Management LLC now owns 404,570 shares of the business services provider’s stock valued at $846,000 after acquiring an additional 8,060 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Performant Financial by 5.6% during the 2nd quarter. Northern Trust Corp now owns 72,716 shares of the business services provider’s stock valued at $152,000 after acquiring an additional 3,857 shares during the last quarter. 54.48% of the stock is currently owned by institutional investors.

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Performant Financial Company Profile

Performant Financial Corporation (Performant) provides technology-enabled recovery and related analytics services in the United States. The Company’s services identify and recover delinquent or defaulted assets and improper payments for both government and private clients in a range of markets. The Company provides its services on an outsourced basis where the Company handles many or all aspects of its clients’ recovery processes.

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