Sierra Summit Advisors LLC Sells 2,958 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Sierra Summit Advisors LLC trimmed its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 9.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,727 shares of the company’s stock after selling 2,958 shares during the period. Sierra Summit Advisors LLC’s holdings in Perdoceo Education were worth $615,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of Perdoceo Education in the second quarter valued at $39,000. Fifth Third Bancorp increased its position in Perdoceo Education by 650.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after acquiring an additional 1,633 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Perdoceo Education in the second quarter worth about $74,000. nVerses Capital LLC acquired a new position in shares of Perdoceo Education during the second quarter worth approximately $92,000. Finally, Banque Cantonale Vaudoise grew its stake in shares of Perdoceo Education by 9.9% during the first quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock valued at $110,000 after purchasing an additional 565 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Insider Transactions at Perdoceo Education

In related news, 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 value of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares in the company, valued at $1,300,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 61,952 shares in the company, valued at $1,300,992. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Gregory L. Jackson sold 26,664 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total transaction of $605,272.80. Following the completion of the sale, the chairman now owns 58,644 shares in the company, valued at $1,331,218.80. The disclosure for this sale can be found here. Insiders have sold 46,325 shares of company stock worth $1,044,656 in the last three months. Insiders own 1.81% of the company’s stock.

Perdoceo Education Stock Up 2.1 %

Perdoceo Education stock opened at $22.17 on Monday. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 9.77, a P/E/G ratio of 0.65 and a beta of 1.03. Perdoceo Education Co. has a 12-month low of $16.12 and a 12-month high of $26.40. The business’s 50-day simple moving average is $22.72 and its 200 day simple moving average is $20.98.

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

Perdoceo Education Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Sunday, September 1st were paid a $0.13 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.35%. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. Perdoceo Education’s dividend payout ratio is 22.91%.

Analyst Ratings Changes

Separately, Barrington Research restated an “outperform” rating and issued a $30.00 price objective 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.