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

Perdoceo Education Corporation (NASDAQ:PRDO – Get Free Report) shares traded up 5.9% on Tuesday. The stock traded as high as $29.01 and last traded at $29.0680. 151,219 shares traded hands during trading, a decline of 77% from the average session volume of 646,640 shares. The stock had previously closed at $27.44.

Wall Street Analysts Forecast Growth

PRDO has been the topic of several recent research reports. Wall Street Zen raised shares of Perdoceo Education from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Perdoceo Education in a report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.00.

Get Our Latest Analysis on PRDO

Perdoceo Education Price Performance

The stock has a market capitalization of $1.81 billion, a PE ratio of 10.16, a P/E/G ratio of 0.64 and a beta of 0.76. The firm’s 50 day simple moving average is $32.03 and its 200 day simple moving average is $33.24.

Perdoceo Education (NASDAQ:PRDO – Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.03. Perdoceo Education had a return on equity of 18.93% and a net margin of 20.62%. The business had revenue of $215.86 million for the quarter, compared to analyst estimates of $211.07 million. During the same period last year, the company earned $0.60 EPS. Perdoceo Education’s revenue for the quarter was up 1.9% compared to the same quarter last year. Analysts expect that Perdoceo Education Corporation will post 3.17 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 27th will be issued a $0.17 dividend. The ex-dividend date is Friday, November 27th. This represents a $0.68 annualized dividend and a yield of 2.4%. Perdoceo Education’s payout ratio is 23.94%.

Insider Activity

In other Perdoceo Education news, CEO Todd Nelson sold 46,199 shares of the firm’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $32.89, for a total transaction of $1,519,485.11. Following the completion of the transaction, the chief executive officer 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio purchased a new position in shares of Perdoceo Education during the 2nd quarter valued at about $38,000. Nykredit A S acquired a new position in shares of Perdoceo Education in the second quarter worth about $40,000. Meeder Asset Management Inc. acquired a new position in shares of Perdoceo Education in the second quarter worth about $71,000. Global Retirement Partners LLC purchased a new stake in shares of Perdoceo Education during the 2nd quarter worth about $96,000. Finally, Inspire Investing LLC boosted its stake in shares of Perdoceo Education by 26.1% during the 3rd quarter. Inspire Investing LLC now owns 4,123 shares of the company’s stock worth $128,000 after acquiring an additional 853 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

About Perdoceo Education

(Get Free Report)

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.

Featured Articles

Receive News & Ratings for Perdoceo Education Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Perdoceo Education and related companies with MarketBeat.com's FREE daily email newsletter.