Jennison Associates LLC Takes $717,000 Position in Perdoceo Education Co. (NASDAQ:PRDO)

Jennison Associates LLC bought a new stake in Perdoceo Education Co. (NASDAQ:PRDO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 40,849 shares of the company’s stock, valued at approximately $717,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Perdoceo Education by 179.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,951 shares of the company’s stock valued at $491,000 after purchasing an additional 17,960 shares during the last quarter. DGS Capital Management LLC increased its stake in Perdoceo Education by 1.9% in the fourth quarter. DGS Capital Management LLC now owns 36,911 shares of the company’s stock valued at $648,000 after purchasing an additional 682 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Perdoceo Education in the fourth quarter valued at $578,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Perdoceo Education by 3.9% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,734 shares of the company’s stock valued at $908,000 after purchasing an additional 1,922 shares during the last quarter. Finally, Stratos Wealth Advisors LLC acquired a new position in Perdoceo Education in the fourth quarter valued at $1,126,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Stock Performance

PRDO stock opened at $18.86 on Friday. Perdoceo Education Co. has a 1 year low of $11.50 and a 1 year high of $19.62. The firm has a market cap of $1.24 billion, a P/E ratio of 8.65, a price-to-earnings-growth ratio of 0.59 and a beta of 0.96. The stock has a 50-day simple moving average of $17.55 and a 200-day simple moving average of $17.64.

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

Perdoceo Education Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.33%. Perdoceo Education’s dividend payout ratio (DPR) is currently 20.18%.

Insider Activity

In related news, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.70, for a total value of $283,200.00. Following the completion of the transaction, the chief executive officer now owns 617,367 shares of the company’s stock, valued at $10,927,395.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $17.70, for a total value of $283,200.00. Following the completion of the transaction, the chief executive officer now owns 617,367 shares of the company’s stock, valued at $10,927,395.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd S. Nelson sold 9,500 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $18.50, for a total value of $175,750.00. Following the completion of the transaction, the chief executive officer now directly owns 685,098 shares of the company’s stock, valued at approximately $12,674,313. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,500 shares of company stock worth $1,597,350. 1.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PRDO has been the subject of several analyst reports. Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of Perdoceo Education in a research note on Monday, April 15th. StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Thursday.

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.