Perdoceo Education Co. (NASDAQ:PRDO) Shares Acquired by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its position in Perdoceo Education Co. (NASDAQ:PRDO) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,505,687 shares of the company’s stock after buying an additional 107,918 shares during the quarter. Renaissance Technologies LLC owned 6.87% of Perdoceo Education worth $96,512,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PRDO. Charles Schwab Investment Management Inc. lifted its holdings in Perdoceo Education by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 946,603 shares of the company’s stock worth $16,622,000 after buying an additional 14,088 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Perdoceo Education by 1.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,064,870 shares of the company’s stock worth $88,940,000 after buying an additional 74,877 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Perdoceo Education in the 4th quarter worth $474,000. Assetmark Inc. lifted its holdings in Perdoceo Education by 4.1% in the 4th quarter. Assetmark Inc. now owns 83,338 shares of the company’s stock worth $1,463,000 after buying an additional 3,260 shares in the last quarter. Finally, AXS Investments LLC bought a new stake in shares of Perdoceo Education in the 4th quarter worth about $291,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Insider Activity at Perdoceo Education

In related news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Perdoceo Education news, Chairman Gregory L. Jackson sold 26,664 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the transaction, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the transaction, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. The disclosure for this sale can be found here. Insiders sold a total of 46,325 shares of company stock valued at $1,044,656 in the last quarter. Insiders own 1.81% of the company’s stock.

Perdoceo Education Stock Performance

PRDO opened at $22.22 on Tuesday. The company has a 50-day moving average of $22.73 and a 200-day moving average of $21.01. The company has a market capitalization of $1.46 billion, a P/E ratio of 9.79, a PEG ratio of 0.65 and a beta of 1.03. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $26.40.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $166.74 million during the quarter, compared to the consensus estimate of $160.91 million. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The company’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.61 EPS. As a group, sell-side analysts expect that Perdoceo Education Co. will post 2.19 earnings per share for the current fiscal year.

Perdoceo Education Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Friday, August 30th. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. Perdoceo Education’s dividend payout ratio is currently 22.91%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $30.00 target price on shares of Perdoceo Education in a research report on Wednesday, August 21st.

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.