Performant Financial (NASDAQ:PFMT) Rating Reiterated by William Blair

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William Blair restated their market perform rating on shares of Performant Financial (NASDAQ:PFMT) in a research note published on Monday morning, Zacks.com reports.

A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research upgraded shares of Performant Financial from a sell rating to a hold rating in a research note on Tuesday, July 16th. ValuEngine upgraded shares of Performant Financial from a hold rating to a buy rating in a research note on Tuesday, July 2nd.

Shares of Performant Financial stock opened at $1.13 on Monday. The company has a market capitalization of $64.39 million, a price-to-earnings ratio of -3.53 and a beta of 0.19. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 0.90. Performant Financial has a 12-month low of $1.00 and a 12-month high of $2.86. The firm’s 50-day moving average price is $1.24 and its two-hundred day moving average price is $1.71.

Performant Financial (NASDAQ:PFMT) last announced its quarterly earnings data on Tuesday, August 13th. The business services provider reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.02). The firm had revenue of $35.83 million for the quarter, compared to analyst estimates of $36.20 million. Performant Financial had a negative return on equity of 32.75% and a negative net margin of 20.11%. On average, sell-side analysts expect that Performant Financial will post -0.34 earnings per share for the current year.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Performant Financial by 5.8% in 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 during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Performant Financial by 1.2% in the second quarter. Renaissance Technologies LLC now owns 944,839 shares of the business services provider’s stock worth $992,000 after acquiring an additional 10,900 shares during the last quarter. Wagner Bowman Management Corp bought a new position in shares of Performant Financial in the first quarter worth about $26,000. Mirador Capital Partners LP lifted its holdings in shares of Performant Financial by 15.5% in 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 during the last quarter. Finally, Paloma Partners Management Co bought a new position in shares of Performant Financial in the second quarter worth about $36,000. 56.59% of the stock is owned by hedge funds and other institutional investors.

About Performant Financial

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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