SCHEDULE: Vanguard Group Adjusts Performant Healthcare Stake

The Vanguard Group has reported a 4.94% beneficial ownership in Performant Healthcare Inc. common stock as of September 30, 2025.

Summary

• The Vanguard Group beneficially owns 3,976,003 shares of Performant Healthcare Inc. common stock.
• This ownership represents 4.94% of the class of securities.
• The Vanguard Group holds sole dispositive power over 3,455,923 shares and shared dispositive power over 520,080 shares.
• Shared voting power is held over 489,927 shares, with no sole voting power.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: The filing is a routine disclosure of institutional ownership, indicating a passive investment below the 5% threshold. It is generally neutral, but the presence of a major institutional investor like Vanguard can be seen as a slightly positive indicator of market confidence.

Positives

• A major institutional investor, The Vanguard Group, maintains a significant stake in Performant Healthcare Inc., which can be viewed as a vote of confidence in the company's long-term prospects.

Negatives

• The filing itself does not contain negative information; it is a routine disclosure of ownership.

Risks

• The filing does not explicitly mention specific risks related to Performant Healthcare Inc. or its operations.

Future Outlook

The filing does not provide any forward-looking statements or guidance regarding Performant Healthcare Inc.'s future performance or strategic direction.

Management Comments

• The Vanguard Group certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose or with the effect of changing or influencing the control of Performant Healthcare Inc.

Industry Context

The Vanguard Group is one of the world's largest investment management companies, and its holdings in various companies, including Performant Healthcare Inc., reflect its broad market investment strategies, often through passive index funds. Performant Healthcare Inc. operates within the healthcare sector, which is subject to ongoing regulatory changes and technological advancements.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and liquidity.

Key Dates

Recommendation

The filing is a routine disclosure of institutional ownership by The Vanguard Group, indicating a passive investment below the 5% threshold. It does not contain new financial or operational data to warrant a change in investment thesis, thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Performant Healthcare Inc, Vanguard Group, Common Stock, Schedule 13G, Institutional Ownership, Healthcare Technology, Beneficial Ownership