Performant Financial Corporation (NASDAQ:PFMT) announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01, Bloomberg Earnings reports. Performant Financial Corporation had a negative net margin of 13.74% and a negative return on equity of 6.81%. The firm had revenue of $35.90 million during the quarter, compared to the consensus estimate of $32.65 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year.
Shares of Performant Financial Corporation (NASDAQ:PFMT) opened at 1.81 on Friday. The company has a 50-day moving average of $1.97 and a 200-day moving average of $2.05. The stock’s market capitalization is $91.94 million. Performant Financial Corporation has a 52-week low of $1.50 and a 52-week high of $4.07.
A number of research analysts recently commented on PFMT shares. ValuEngine downgraded shares of Performant Financial Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 6th. Zacks Investment Research raised shares of Performant Financial Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 30th.
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An institutional investor recently raised its position in Performant Financial Corporation stock. Northern Trust Corp boosted its stake in shares of Performant Financial Corporation (NASDAQ:PFMT) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 72,716 shares of the business services provider’s stock after buying an additional 3,857 shares during the period. Northern Trust Corp owned about 0.14% of Performant Financial Corporation worth $152,000 at the end of the most recent quarter. 54.81% of the stock is owned by institutional investors.
Performant Financial Corporation 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.
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