Performant Financial (NASDAQ:PFMT)‘s stock had its “buy” rating reissued by stock analysts at Compass Point in a research report issued on Wednesday, March 7th. They presently have a $3.50 target price on the business services provider’s stock. Compass Point’s target price would indicate a potential upside of 15.89% from the company’s current price.
PFMT has been the topic of a number of other research reports. ValuEngine raised shares of Performant Financial from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research cut shares of Performant Financial from a “hold” rating to a “strong sell” rating in a research report on Thursday, November 30th.
Shares of Performant Financial (PFMT) traded up $0.06 on Wednesday, reaching $3.02. 177,330 shares of the company’s stock were exchanged, compared to its average volume of 58,461. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $153.90, a PE ratio of -12.08 and a beta of 1.25. Performant Financial has a twelve month low of $1.50 and a twelve month high of $3.52.
Performant Financial (NASDAQ:PFMT) last issued its quarterly earnings results on Tuesday, March 6th. The business services provider reported $0.02 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.05. The business had revenue of $33.30 million for the quarter, compared to analysts’ expectations of $30.15 million. Performant Financial had a negative net margin of 9.64% and a negative return on equity of 11.91%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. research analysts forecast that Performant Financial will post -0.12 EPS for the current fiscal year.
In other news, CEO Lisa Im sold 150,000 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $2.88, for a total transaction of $432,000.00. Following the transaction, the chief executive officer now owns 1,428,234 shares of the company’s stock, valued at approximately $4,113,313.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 33.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Northern Trust Corp raised its holdings in shares of 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 acquiring an additional 3,857 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Performant Financial by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 843,800 shares of the business services provider’s stock worth $1,392,000 after acquiring an additional 35,900 shares during the last quarter. Finally, 22NW LP raised its holdings in shares of 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 acquiring an additional 28,533 shares during the last quarter. Institutional investors own 58.78% of the company’s stock.
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About Performant Financial
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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