Wellington Management Group LLP Buys Shares of 855,000 Performant Financial Co. (NASDAQ:PFMT)

Wellington Management Group LLP purchased a new position in Performant Financial Co. (NASDAQ:PFMT) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 855,000 shares of the business services provider’s stock, valued at approximately $1,932,000. Wellington Management Group LLP owned approximately 1.11% of Performant Financial as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. First Eagle Investment Management LLC grew its position in Performant Financial by 31.3% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,955,024 shares of the business services provider’s stock valued at $4,418,000 after buying an additional 465,624 shares in the last quarter. Barclays PLC bought a new position in shares of Performant Financial in the second quarter valued at approximately $71,000. Punch & Associates Investment Management Inc. increased its stake in shares of Performant Financial by 5.9% during the third quarter. Punch & Associates Investment Management Inc. now owns 2,731,405 shares of the business services provider’s stock valued at $6,173,000 after acquiring an additional 151,305 shares during the period. SG Americas Securities LLC bought a new stake in Performant Financial during the third quarter worth approximately $34,000. Finally, Driehaus Capital Management LLC lifted its position in Performant Financial by 2.1% in the second quarter. Driehaus Capital Management LLC now owns 1,560,113 shares of the business services provider’s stock worth $4,212,000 after purchasing an additional 31,732 shares during the period. 77.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, TheStreet raised Performant Financial from a “d+” rating to a “c-” rating in a research note on Friday, December 15th.

Performant Financial Price Performance

Shares of NASDAQ PFMT opened at $2.91 on Thursday. Performant Financial Co. has a twelve month low of $2.00 and a twelve month high of $3.61. The company has a current ratio of 3.21, a quick ratio of 3.21 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $2.86 and a two-hundred day moving average of $2.70. The company has a market capitalization of $223.84 million, a price-to-earnings ratio of -29.10 and a beta of 0.06.

Performant Financial Company Profile

Performant Financial Corporation provides technology-enabled audit, recovery, and analytics services in the United States. The company identifies improper payments resulting from incorrect coding, procedures that were not medically necessary, incomplete documentation or claims submitted based on outdated fee schedules, and coverage discrepancies; and provides first party call center and other outsourced services.