Performant Financial (NASDAQ:PFMT) was upgraded by stock analysts at Compass Point from a “neutral” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded Performant Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. ValuEngine upgraded Performant Financial from a “sell” rating to a “hold” rating in a research note on Friday, December 1st.

Shares of Performant Financial (PFMT) opened at $2.31 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.17 and a quick ratio of 1.17. Performant Financial has a 52 week low of $1.50 and a 52 week high of $3.52.

Performant Financial (NASDAQ:PFMT) last issued its earnings results on Tuesday, November 7th. The business services provider reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.08). The business had revenue of $29.70 million for the quarter, compared to analysts’ expectations of $31.45 million. Performant Financial had a negative net margin of 19.27% and a negative return on equity of 15.46%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 earnings per share. equities research analysts anticipate that Performant Financial will post -0.25 earnings per share for the current year.

In other news, CEO Lisa Im sold 40,450 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $1.60, for a total value of $64,720.00. Following the transaction, the chief executive officer now directly owns 1,456,884 shares in the company, valued at approximately $2,331,014.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 33.60% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp lifted its position in Performant Financial by 5.6% during the second quarter. Northern Trust Corp now owns 72,716 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 3,857 shares in the last quarter. Sterling Capital Management LLC lifted its position in Performant Financial by 2.0% during the second quarter. Sterling Capital Management LLC now owns 404,570 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 8,060 shares in the last quarter. Finally, 22NW LP lifted its position in Performant Financial by 2.5% during the third quarter. 22NW LP now owns 1,149,038 shares of the business services provider’s stock valued at $2,091,000 after purchasing an additional 28,533 shares in the last quarter. Hedge funds and other institutional investors own 54.48% of the company’s stock.

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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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