Perdoceo Education (NASDAQ:PRDO) Sets New 12-Month High Following Better-Than-Expected Earnings

Perdoceo Education Co. (NASDAQ:PRDO)’s share price reached a new 52-week high during trading on Thursday following a better than expected earnings announcement. The company traded as high as $21.73 and last traded at $21.55, with a volume of 118220 shares. The stock had previously closed at $18.34.

The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.07. Perdoceo Education had a return on equity of 17.63% and a net margin of 20.80%. The firm had revenue of $168.30 million during the quarter, compared to the consensus estimate of $163.30 million. During the same period in the prior year, the firm posted $0.58 earnings per share. The firm’s revenue for the quarter was down 14.0% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PRDO. StockNews.com downgraded Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th. Barrington Research increased their price objective on Perdoceo Education from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Thursday.

Insider Buying and Selling at Perdoceo Education

In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $17.23, for a total transaction of $275,680.00. Following the sale, the chief executive officer now directly owns 713,367 shares of the company’s stock, valued at approximately $12,291,313.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $17.23, for a total transaction of $275,680.00. Following the sale, the chief executive officer now directly owns 713,367 shares of the company’s stock, valued at approximately $12,291,313.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ashish R. Ghia sold 11,412 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $19.00, for a total transaction of $216,828.00. Following the sale, the chief financial officer now directly owns 226,234 shares in the company, valued at $4,298,446. The disclosure for this sale can be found here. Insiders have sold a total of 75,412 shares of company stock valued at $1,342,428 in the last three months. 1.81% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Perdoceo Education

A number of hedge funds have recently modified their holdings of the stock. Planned Solutions Inc. acquired a new position in Perdoceo Education during the fourth quarter worth $26,000. McGlone Suttner Wealth Management Inc. acquired a new position in Perdoceo Education during the fourth quarter worth $26,000. AJOVista LLC acquired a new position in Perdoceo Education during the fourth quarter worth $81,000. Banque Cantonale Vaudoise increased its position in Perdoceo Education by 9.9% during the first quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock worth $110,000 after buying an additional 565 shares during the last quarter. Finally, Commons Capital LLC acquired a new position in Perdoceo Education during the fourth quarter worth $193,000. 93.46% of the stock is owned by institutional investors and hedge funds.

Perdoceo Education Stock Up 31.5 %

The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 11.06, a P/E/G ratio of 0.58 and a beta of 0.92. The company’s 50-day simple moving average is $17.77 and its 200 day simple moving average is $17.70.

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.