Perdoceo Education (NASDAQ:PRDO) Shares Climb 5.9% – Here’s Why

Perdoceo Education Corporation (NASDAQ:PRDO)’s stock price rose 5.9% during mid-day trading on Tuesday. The company traded as high as $29.01 and last traded at $29.0680. Approximately 151,219 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 646,640 shares. The stock had previously closed at $27.44.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PRDO shares. Weiss Ratings reissued a “buy (b)” rating on shares of Perdoceo Education in a report on Thursday, October 15th. Wall Street Zen upgraded shares of Perdoceo Education from a “hold” rating to a “buy” rating in a research report on Saturday, November 7th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.00.

Perdoceo Education Trading Up 0.5%

The stock has a market cap of $1.80 billion, a PE ratio of 10.20, a PEG ratio of 0.61 and a beta of 0.76. The business has a 50-day moving average price of $31.86 and a 200 day moving average price of $33.21.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Thursday, November 5th. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.03. The company had revenue of $215.86 million during the quarter, compared to analyst estimates of $211.07 million. Perdoceo Education had a return on equity of 19.26% and a net margin of 21.06%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. On average, equities analysts predict that Perdoceo Education Corporation will post 3.17 earnings per share for the current year.

Perdoceo Education Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 27th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, November 27th. This represents a $0.68 annualized dividend and a dividend yield of 2.3%. Perdoceo Education’s payout ratio is 23.94%.

Insider Activity at Perdoceo Education

In related news, CEO Todd Nelson sold 46,199 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $32.89, for a total value of $1,519,485.11. Following the completion of the transaction, the chief executive officer directly owned 301,782 shares of the company’s stock, valued at approximately $9,925,609.98. This trade represents a 13.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.46% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PRDO. Boston Partners grew its position in shares of Perdoceo Education by 47.3% in the third quarter. Boston Partners now owns 57,855 shares of the company’s stock valued at $1,790,000 after purchasing an additional 18,591 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Perdoceo Education by 3.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 304,213 shares of the company’s stock worth $10,389,000 after purchasing an additional 10,455 shares during the period. Edgestream Partners L.P. bought a new position in Perdoceo Education in the 3rd quarter worth about $5,388,000. Bessemer Group Inc. boosted its stake in Perdoceo Education by 15.4% in the 3rd quarter. Bessemer Group Inc. now owns 13,706 shares of the company’s stock worth $424,000 after purchasing an additional 1,827 shares during the period. Finally, Royce & Associates LP grew its holdings in Perdoceo Education by 317.9% during the 3rd quarter. Royce & Associates LP now owns 319,157 shares of the company’s stock valued at $9,875,000 after buying an additional 242,794 shares in the last quarter. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

About Perdoceo Education

Perdoceo Education Corporation provides postsecondary education through Colorado Technical University (CTU) and American InterContinental University (AIU). The institutions offer undergraduate and graduate degree programs, as well as certificates, in fields including business, technology, healthcare, and criminal justice. Both universities deliver much of their instruction online and also maintain campus locations. Their programs are designed to serve working adults and other students seeking flexible study options, primarily in the United States.