Teacher Retirement System of Texas Has $675,000 Holdings in Perdoceo Education Corporation (NASDAQ:PRDO)

Teacher Retirement System of Texas trimmed its stake in shares of Perdoceo Education Corporation (NASDAQ:PRDO) by 54.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,812 shares of the company’s stock after selling 31,915 shares during the period. Teacher Retirement System of Texas’ holdings in Perdoceo Education were worth $675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Quarry LP increased its holdings in Perdoceo Education by 223.6% during the 4th quarter. Quarry LP now owns 1,793 shares of the company’s stock worth $47,000 after purchasing an additional 1,239 shares in the last quarter. New Vernon Capital Holdings II LLC acquired a new position in shares of Perdoceo Education during the fourth quarter worth about $127,000. Quantbot Technologies LP bought a new position in shares of Perdoceo Education during the fourth quarter worth about $172,000. Point72 Asset Management L.P. raised its position in Perdoceo Education by 31.7% in the 4th quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company’s stock valued at $209,000 after buying an additional 1,900 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Perdoceo Education in the 4th quarter valued at approximately $215,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP John Robert Kline sold 71,254 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.75, for a total transaction of $2,262,314.50. Following the transaction, the senior vice president directly owned 75,868 shares of the company’s stock, valued at approximately $2,408,809. The trade was a 48.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sunitha Araamudhu sold 14,296 shares of the stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $30.69, for a total value of $438,744.24. Following the completion of the sale, the senior vice president owned 34,891 shares in the company, valued at approximately $1,070,804.79. This trade represents a 29.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,565 shares of company stock worth $4,550,566 in the last 90 days. 2.11% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PRDO. Wall Street Zen cut shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Barrington Research raised their target price on shares of Perdoceo Education from $38.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, June 6th.

Perdoceo Education Stock Performance

PRDO opened at $29.33 on Wednesday. The business’s 50-day simple moving average is $31.73 and its 200 day simple moving average is $28.26. Perdoceo Education Corporation has a 52-week low of $20.55 and a 52-week high of $34.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.43 and a current ratio of 4.46. The firm has a market capitalization of $1.92 billion, a PE ratio of 12.98, a PEG ratio of 0.78 and a beta of 0.83.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. Perdoceo Education had a return on equity of 17.10% and a net margin of 20.91%. The company had revenue of $213.00 million for the quarter, compared to analysts’ expectations of $207.97 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 26.6% compared to the same quarter last year. As a group, sell-side analysts expect that Perdoceo Education Corporation will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Sunday, June 1st were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.77%. Perdoceo Education’s dividend payout ratio is presently 23.01%.

Perdoceo Education Company Profile

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.