Perdoceo Education (NASDAQ:PRDO) Rating Lowered to Buy at StockNews.com

Perdoceo Education (NASDAQ:PRDO) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Barrington Research upped their price target 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.

Perdoceo Education Stock Down 0.7 %

PRDO opened at $27.45 on Friday. The firm has a market cap of $1.80 billion, a PE ratio of 13.79, a P/E/G ratio of 0.81 and a beta of 1.04. The business has a fifty day simple moving average of $23.34 and a 200-day simple moving average of $22.70. Perdoceo Education has a fifty-two week low of $16.12 and a fifty-two week high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The business had revenue of $169.83 million during the quarter, compared to analyst estimates of $164.60 million. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. Perdoceo Education’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.64 EPS. On average, equities research analysts anticipate that Perdoceo Education will post 2.27 EPS for the current fiscal year.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction 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 sale, the insider now owns 61,952 shares of the company’s stock, valued at $1,300,992. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Patrick W. Gross sold 3,400 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 in the company, valued at $1,862,039.90. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,450 shares of company stock valued at $1,036,206. Company insiders own 1.81% of the company’s stock.

Institutional Investors Weigh In On Perdoceo Education

Several institutional investors and hedge funds have recently modified their holdings of PRDO. Quarry LP lifted its position in shares of Perdoceo Education by 1,306.3% in the second quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after buying an additional 1,254 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Perdoceo Education by 38.7% in the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock valued at $38,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC acquired a new stake in Perdoceo Education in the 2nd quarter worth approximately $39,000. Fifth Third Bancorp boosted its position in Perdoceo Education by 650.6% during the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after purchasing an additional 1,633 shares during the period. Finally, Innealta Capital LLC acquired a new position in Perdoceo Education during the second quarter valued at approximately $74,000. Institutional investors and hedge funds 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.