Performant Financial’s (PFMT) “Market Perform” Rating Reiterated at William Blair

William Blair reiterated their market perform rating on shares of Performant Financial (NASDAQ:PFMT) in a research note published on Monday morning, Zacks.com reports. William Blair also issued estimates for Performant Financial’s Q4 2019 earnings at ($0.02) EPS, FY2019 earnings at ($0.41) EPS, Q1 2020 earnings at ($0.04) EPS, Q2 2020 earnings at ($0.03) EPS, Q4 2020 earnings at $0.00 EPS, FY2020 earnings at ($0.08) EPS and FY2021 earnings at $0.11 EPS.

Several other equities analysts have also weighed in on the stock. Zacks Investment Research raised shares of Performant Financial from a sell rating to a hold rating in a research report on Tuesday, July 16th. ValuEngine raised shares of Performant Financial from a hold rating to a buy rating in a research report on Tuesday, July 2nd.

Shares of PFMT opened at $1.13 on Monday. The firm has a market capitalization of $63.32 million, a PE ratio of -3.53 and a beta of 0.19. The company’s 50-day moving average is $1.24 and its 200-day moving average is $1.70. Performant Financial has a fifty-two week low of $1.00 and a fifty-two week high of $2.86. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.62 and a quick ratio of 1.62.

Performant Financial (NASDAQ:PFMT) last issued its quarterly earnings data on Tuesday, August 13th. The business services provider reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.02). The company had revenue of $35.83 million during the quarter, compared to the consensus estimate of $36.20 million. Performant Financial had a negative net margin of 20.11% and a negative return on equity of 32.75%. Analysts predict that Performant Financial will post -0.34 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in PFMT. Wagner Bowman Management Corp bought a new stake in shares of Performant Financial in the 1st quarter valued at $26,000. Mirador Capital Partners LP increased its stake in shares of Performant Financial by 15.5% in the 2nd quarter. Mirador Capital Partners LP now owns 192,445 shares of the business services provider’s stock valued at $202,000 after acquiring an additional 25,762 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its stake in shares of Performant Financial by 41.4% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 7,348,179 shares of the business services provider’s stock valued at $7,716,000 after acquiring an additional 2,150,111 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Performant Financial by 1.2% in the 2nd quarter. Renaissance Technologies LLC now owns 944,839 shares of the business services provider’s stock valued at $992,000 after acquiring an additional 10,900 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Performant Financial by 5.8% in the 2nd quarter. BlackRock Inc. now owns 174,050 shares of the business services provider’s stock valued at $183,000 after acquiring an additional 9,537 shares in the last quarter. 56.59% of the stock is currently owned by institutional investors and hedge funds.

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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