Insider Selling: Perdoceo Education Co. (NASDAQ:PRDO) CEO Sells 38,984 Shares of Stock

Perdoceo Education Co. (NASDAQ:PRDO) CEO Todd S. Nelson sold 38,984 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $24.66, for a total transaction of $961,345.44. Following the sale, the chief executive officer now directly owns 644,047 shares of the company’s stock, valued at $15,882,199.02. This trade represents a 5.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Perdoceo Education Trading Down 0.4 %

Shares of PRDO stock opened at $25.20 on Wednesday. The company has a current ratio of 4.84, a quick ratio of 5.45 and a debt-to-equity ratio of 0.01. Perdoceo Education Co. has a 12-month low of $16.56 and a 12-month high of $29.84. The stock has a market capitalization of $1.66 billion, a P/E ratio of 11.45, a P/E/G ratio of 0.75 and a beta of 1.04. The firm’s 50 day moving average is $26.80 and its 200 day moving average is $25.21.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $176.43 million during the quarter, compared to analyst estimates of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. Research analysts expect that Perdoceo Education Co. will post 2.41 earnings per share for the current year.

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Saturday, March 1st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.06%. The ex-dividend date was Friday, February 28th. Perdoceo Education’s dividend payout ratio (DPR) is presently 23.64%.

Hedge Funds Weigh In On Perdoceo Education

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in Perdoceo Education by 71.3% in the third quarter. Victory Capital Management Inc. now owns 73,819 shares of the company’s stock worth $1,642,000 after acquiring an additional 30,725 shares during the period. Wellington Management Group LLP bought a new position in Perdoceo Education in the 3rd quarter worth $9,374,000. Geode Capital Management LLC lifted its position in Perdoceo Education by 1.9% during the third quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company’s stock valued at $40,114,000 after purchasing an additional 33,092 shares in the last quarter. Quest Partners LLC grew its holdings in Perdoceo Education by 1,107.5% during the third quarter. Quest Partners LLC now owns 22,012 shares of the company’s stock valued at $490,000 after purchasing an additional 20,189 shares during the period. Finally, Barclays PLC increased its position in Perdoceo Education by 353.5% in the third quarter. Barclays PLC now owns 110,622 shares of the company’s stock worth $2,460,000 after buying an additional 86,227 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Barrington Research lifted their target price on Perdoceo Education from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th.

About Perdoceo Education

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.