According to Zacks, “Performant Financial Corporation is engaged in providing technology-enabled recovery and related analytics services in the United States. The company’s services help identify and recover delinquent or defaulted assets and improper payments for both government and private clients. Services offered by the company includes financial asset recovery, risk management, audit and recovery cost containment and fraud, waste and abuse marketplace. Performant provides its services on an outsourced basis. It provides services to clients in a range of different markets which includes student lending and healthcare, delinquent state taxes and federal Treasury and other receivables. Performant Financial Corporation is headquartered in Livermore, California. “
Separately, ValuEngine raised shares of Performant Financial from a hold rating to a buy rating in a report on Friday, May 1st.
Performant Financial (NASDAQ:PFMT) last posted its earnings results on Tuesday, May 19th. The business services provider reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. The firm had revenue of $45.89 million during the quarter, compared to analysts’ expectations of $38.80 million. Performant Financial had a negative net margin of 19.09% and a negative return on equity of 22.68%. As a group, equities analysts predict that Performant Financial will post -0.03 EPS for the current fiscal year.
An institutional investor recently raised its position in Performant Financial stock. Prescott Group Capital Management L.L.C. boosted its holdings in Performant Financial Corp (NASDAQ:PFMT) by 51.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,545,261 shares of the business services provider’s stock after buying an additional 4,255,667 shares during the quarter. Performant Financial makes up approximately 5.6% of Prescott Group Capital Management L.L.C.’s investment portfolio, making the stock its 2nd largest position. Prescott Group Capital Management L.L.C. owned 23.28% of Performant Financial worth $11,291,000 at the end of the most recent quarter. 49.14% of the stock is currently owned by institutional investors and hedge funds.
Performant Financial Company Profile
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.
Read More: Understanding Average Daily Trade Volume
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Performant Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Performant Financial and related companies with MarketBeat.com's FREE daily email newsletter.