Patrick W. Gross Sells 3,400 Shares of Perdoceo Education Co. (NASDAQ:PRDO) Stock

Perdoceo Education Co. (NASDAQ:PRDO) Director Patrick W. Gross sold 3,400 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.74, for a total transaction of $90,916.00. Following the completion of the transaction, the director now directly owns 69,635 shares of the company’s stock, valued at approximately $1,862,039.90. The trade was a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $27.33 on Friday. Perdoceo Education Co. has a one year low of $16.12 and a one year high of $29.47. The company’s 50-day simple moving average is $22.79 and its 200-day simple moving average is $22.58. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.78 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The business had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. During the same quarter last year, the company posted $0.64 earnings per share. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, research analysts forecast that Perdoceo Education Co. will post 2.27 EPS for the current year.

Perdoceo Education Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. Perdoceo Education’s payout ratio is currently 26.13%.

Hedge Funds Weigh In On Perdoceo Education

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Perdoceo Education by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock valued at $103,538,000 after acquiring an additional 45,259 shares during the period. Manning & Napier Advisors LLC acquired a new position in Perdoceo Education in the second quarter valued at approximately $2,570,000. SG Americas Securities LLC acquired a new position in Perdoceo Education in the second quarter valued at approximately $954,000. Boston Partners boosted its stake in Perdoceo Education by 979.2% in the first quarter. Boston Partners now owns 750,979 shares of the company’s stock valued at $13,376,000 after acquiring an additional 681,391 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in Perdoceo Education by 69.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 150,557 shares of the company’s stock valued at $2,644,000 after acquiring an additional 61,734 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRDO has been the subject of a number of analyst reports. Barrington Research upped their price objective on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Friday.

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.