Perdoceo Education Corporation (NASDAQ:PRDO) CFO Sells $1,629,586.70 in Stock

Perdoceo Education Corporation (NASDAQ:PRDO) CFO Ashish R. Ghia sold 53,081 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $30.70, for a total value of $1,629,586.70. Following the completion of the transaction, the chief financial officer directly owned 157,632 shares of the company’s stock, valued at approximately $4,839,302.40. The trade was a 25.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Perdoceo Education Stock Up 0.4%

PRDO opened at $32.09 on Thursday. Perdoceo Education Corporation has a fifty-two week low of $20.55 and a fifty-two week high of $34.60. The business has a 50-day moving average of $30.82 and a 200-day moving average of $28.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.27 and a quick ratio of 4.26. The company has a market capitalization of $2.08 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 0.85 and a beta of 0.87.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.67 earnings per share 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 business had revenue of $209.58 million for the quarter, compared to the consensus estimate of $206.92 million. During the same period last year, the business earned $0.60 EPS. The firm’s revenue was up 25.7% compared to the same quarter last year. Equities research analysts forecast that Perdoceo Education Corporation will post 2.41 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Tuesday, September 2nd will be issued a $0.15 dividend. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. Perdoceo Education’s payout ratio is 22.51%.

Institutional Trading of Perdoceo Education

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jump Financial LLC acquired a new stake in Perdoceo Education in the 2nd quarter valued at approximately $3,455,000. Cresset Asset Management LLC bought a new stake in Perdoceo Education in the second quarter valued at $2,453,000. Amundi bought a new stake in Perdoceo Education in the second quarter valued at $308,000. Marshall Wace LLP grew its position in Perdoceo Education by 192.2% in the second quarter. Marshall Wace LLP now owns 80,212 shares of the company’s stock valued at $2,622,000 after acquiring an additional 52,762 shares during the period. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Perdoceo Education in the second quarter valued at $681,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on PRDO shares. Wall Street Zen cut Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 5th. Barrington Research reissued an “outperform” rating and issued a $40.00 price objective on shares of Perdoceo Education in a research note on Friday, August 1st.

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.