Parkman Healthcare Partners LLC Decreases Stock Holdings in Performant Financial Co. (NASDAQ:PFMT)

Parkman Healthcare Partners LLC reduced its position in Performant Financial Co. (NASDAQ:PFMT - Free Report) by 11.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,440,838 shares of the business services provider's stock after selling 182,361 shares during the period. Parkman Healthcare Partners LLC owned 1.84% of Performant Financial worth $5,389,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Performant Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 3,663,336 shares of the business services provider's stock worth $10,770,000 after purchasing an additional 59,043 shares in the last quarter. Mirador Capital Partners LP raised its holdings in Performant Financial by 2.8% in the 2nd quarter. Mirador Capital Partners LP now owns 2,051,195 shares of the business services provider's stock worth $5,948,000 after purchasing an additional 55,400 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Performant Financial by 18.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 200,208 shares of the business services provider's stock valued at $581,000 after buying an additional 31,075 shares in the last quarter. HighMark Wealth Management LLC lifted its holdings in Performant Financial by 8.3% during the second quarter. HighMark Wealth Management LLC now owns 785,550 shares of the business services provider's stock valued at $2,278,000 after purchasing an additional 60,000 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Performant Financial by 32.1% in the 2nd quarter. Rhumbline Advisers now owns 84,953 shares of the business services provider's stock valued at $246,000 after buying an additional 20,637 shares in the last quarter. 77.15% of the stock is currently owned by institutional investors.

Performant Financial Trading Down 1.6 %

NASDAQ:PFMT traded down $0.05 on Wednesday, reaching $3.09. The company's stock had a trading volume of 166,357 shares, compared to its average volume of 174,522. Performant Financial Co. has a 12-month low of $2.37 and a 12-month high of $4.35. The company has a quick ratio of 2.67, a current ratio of 2.67 and a debt-to-equity ratio of 0.11. The firm has a market cap of $241.92 million, a price-to-earnings ratio of -31.40 and a beta of 0.09. The stock has a 50 day moving average price of $3.54 and a 200 day moving average price of $3.35.

Performant Financial (NASDAQ:PFMT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The business services provider reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $31.52 million for the quarter, compared to analyst estimates of $31.70 million. Performant Financial had a negative net margin of 6.74% and a negative return on equity of 10.19%. During the same period in the previous year, the firm earned ($0.01) EPS. On average, equities analysts anticipate that Performant Financial Co. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PFMT. Craig Hallum raised shares of Performant Financial to a "strong-buy" rating in a research note on Tuesday, October 1st. B. Riley reduced their price target on Performant Financial from $8.00 to $7.00 and set a "buy" rating on the stock in a report on Thursday, November 7th.

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.