ValuEngine upgraded shares of Performant Financial (NASDAQ:PFMT) from a sell rating to a hold rating in a report issued on Friday.

Separately, Zacks Investment Research lowered Performant Financial from a hold rating to a sell rating in a research report on Tuesday, August 22nd.

Shares of Performant Financial (PFMT) traded up $0.01 during trading hours on Friday, reaching $1.81. The company’s stock had a trading volume of 24,500 shares, compared to its average volume of 47,169. Performant Financial has a fifty-two week low of $1.50 and a fifty-two week high of $3.95. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.49.

Performant Financial (NASDAQ:PFMT) last issued its earnings results on Tuesday, November 7th. The business services provider reported ($0.13) earnings per share for the quarter, missing the Zacks’ 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 during the quarter, compared to analysts’ expectations of $31.45 million. During the same period last year, the firm posted $0.02 EPS. Performant Financial’s quarterly revenue was down 4.8% compared to the same quarter last year. sell-side analysts forecast that Performant Financial will post -0.25 earnings per share for the current year.

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

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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