Perdoceo Education Co. (NASDAQ:PRDO) CEO Todd S. Nelson Sells 16,000 Shares

Perdoceo Education Co. (NASDAQ:PRDO) CEO Todd S. Nelson sold 16,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $17.77, for a total transaction of $284,320.00. Following the completion of the sale, the chief executive officer now owns 649,367 shares in the company, valued at approximately $11,539,251.59. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Perdoceo Education Price Performance

Perdoceo Education stock opened at $17.70 on Thursday. The firm has a 50 day simple moving average of $17.73 and a 200-day simple moving average of $17.56. The stock has a market capitalization of $1.16 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 0.56 and a beta of 0.97. Perdoceo Education Co. has a 12-month low of $11.50 and a 12-month high of $19.62.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.04. The business had revenue of $147.30 million during the quarter, compared to analysts’ expectations of $146.20 million. Perdoceo Education had a net margin of 20.80% and a return on equity of 17.63%. The business’s revenue was down 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. On average, analysts forecast that Perdoceo Education Co. will post 2.12 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Thursday, February 29th. Perdoceo Education’s payout ratio is 20.18%.

Institutional Trading of Perdoceo Education

A number of large investors have recently added to or reduced their stakes in PRDO. LSV Asset Management boosted its holdings in Perdoceo Education by 117.7% during the fourth quarter. LSV Asset Management now owns 1,213,839 shares of the company’s stock worth $21,315,000 after buying an additional 656,280 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Perdoceo Education by 32.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,602,905 shares of the company’s stock worth $28,147,000 after purchasing an additional 395,481 shares during the period. Invesco Ltd. boosted its stake in Perdoceo Education by 59.0% in the 3rd quarter. Invesco Ltd. now owns 1,028,253 shares of the company’s stock worth $17,583,000 after purchasing an additional 381,665 shares during the period. Goldman Sachs Group Inc. boosted its stake in Perdoceo Education by 43.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,217,547 shares of the company’s stock worth $21,380,000 after purchasing an additional 366,202 shares during the period. Finally, Millennium Management LLC boosted its stake in Perdoceo Education by 229.4% in the 2nd quarter. Millennium Management LLC now owns 514,584 shares of the company’s stock worth $6,062,000 after purchasing an additional 358,361 shares during the period. 93.46% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PRDO shares. StockNews.com upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th. Barrington Research restated an “outperform” rating and issued a $23.00 price target on shares of Perdoceo Education in a research note on Friday, February 9th.

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.