Perdoceo Education (NASDAQ:PRDO) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of Perdoceo Education (NASDAQ:PRDO) from a strong-buy rating to a buy rating in a report released on Monday.

PRDO has been the topic of a number of other reports. Barrington Research reissued an “outperform” rating and set a $42.00 price target on shares of Perdoceo Education in a research note on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of Perdoceo Education in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $42.00.

Perdoceo Education Stock Performance

NASDAQ:PRDO opened at $34.64 on Monday. The stock’s 50-day simple moving average is $34.95 and its 200 day simple moving average is $31.89. The firm has a market capitalization of $2.25 billion, a PE ratio of 15.00, a price-to-earnings-growth ratio of 0.97 and a beta of 0.88. The company has a quick ratio of 4.26, a current ratio of 4.27 and a debt-to-equity ratio of 0.01. Perdoceo Education has a twelve month low of $21.81 and a twelve month high of $38.02.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.02. Perdoceo Education had a return on equity of 17.13% and a net margin of 20.09%.The firm had revenue of $209.58 million for the quarter, compared to analyst estimates of $206.92 million. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was up 25.7% on a year-over-year basis. On average, analysts anticipate that Perdoceo Education will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Gregory L. Jackson sold 4,568 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $32.50, for a total transaction of $148,460.00. Following the completion of the sale, the chairman owned 60,962 shares in the company, valued at $1,981,265. The trade was a 6.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Greg E. Jansen sold 30,234 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $33.00, for a total value of $997,722.00. Following the sale, the senior vice president owned 96,279 shares of the company’s stock, valued at approximately $3,177,207. This represents a 23.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 205,656 shares of company stock valued at $6,871,148 in the last 90 days. Company insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On Perdoceo Education

Several hedge funds and other institutional investors have recently modified their holdings of PRDO. IFP Advisors Inc bought a new stake in Perdoceo Education during the first quarter worth $25,000. First Horizon Corp bought a new stake in Perdoceo Education during the third quarter worth $29,000. Blue Trust Inc. boosted its position in Perdoceo Education by 81.5% in the third quarter. Blue Trust Inc. now owns 833 shares of the company’s stock worth $31,000 after purchasing an additional 374 shares during the last quarter. Richardson Financial Services Inc. boosted its position in Perdoceo Education by 166.2% in the third quarter. Richardson Financial Services Inc. now owns 836 shares of the company’s stock worth $31,000 after purchasing an additional 522 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its position in Perdoceo Education by 49.9% in the third quarter. Global Retirement Partners LLC now owns 1,154 shares of the company’s stock worth $43,000 after purchasing an additional 384 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

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.