Perdoceo Education’s (PRDO) Outperform Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of Perdoceo Education (NASDAQ:PRDO) in a research note released on Monday, Benzinga reports. The brokerage currently has a $23.00 price target on the stock.

Separately, StockNews.com upgraded shares of Perdoceo Education from a buy rating to a strong-buy rating in a research report on Tuesday, March 19th.

Perdoceo Education Stock Performance

NASDAQ PRDO opened at $16.85 on Monday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.54 and a beta of 0.96. Perdoceo Education has a 1 year low of $11.50 and a 1 year high of $19.62. The business’s fifty day moving average is $17.56 and its two-hundred day moving average is $17.62.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. Perdoceo Education had a return on equity of 17.63% and a net margin of 20.80%. The company had revenue of $147.30 million for the quarter, compared to analysts’ expectations of $146.20 million. During the same quarter in the prior year, the company earned $0.31 earnings per share. The firm’s revenue was down 16.4% on a year-over-year basis. On average, research analysts forecast that Perdoceo Education will post 2.12 earnings per share for the current year.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, February 29th. Perdoceo Education’s payout ratio is 20.18%.

Insiders Place Their Bets

In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $18.50, for a total transaction of $296,000.00. Following the transaction, the chief executive officer now directly owns 685,098 shares in the company, valued at approximately $12,674,313. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Todd S. Nelson sold 9,500 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $18.50, for a total transaction of $175,750.00. Following the transaction, the chief executive officer now directly owns 685,098 shares in the company, valued at approximately $12,674,313. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Todd S. Nelson sold 16,000 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $18.50, for a total transaction of $296,000.00. Following the transaction, the chief executive officer now owns 685,098 shares in the company, valued at $12,674,313. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,500 shares of company stock worth $2,189,350. Corporate insiders own 2.73% of the company’s stock.

Hedge Funds Weigh In On Perdoceo Education

Institutional investors and hedge funds have recently modified their holdings of the stock. Stratos Wealth Advisors LLC acquired a new position in Perdoceo Education during the 4th quarter worth $1,126,000. Illinois Municipal Retirement Fund acquired a new position in Perdoceo Education during the 3rd quarter worth $674,000. LSV Asset Management lifted its position in Perdoceo Education by 11.2% during the 3rd quarter. LSV Asset Management now owns 557,559 shares of the company’s stock worth $9,534,000 after acquiring an additional 56,300 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in Perdoceo Education by 6.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 23,750 shares of the company’s stock worth $406,000 after acquiring an additional 1,342 shares during the last quarter. Finally, Alps Advisors Inc. acquired a new position in Perdoceo Education during the 3rd quarter worth $1,054,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.