Insider Selling: Perdoceo Education Co. (NASDAQ:PRDO) Director Sells 3,400 Shares of Stock

Perdoceo Education Co. (NASDAQ:PRDO) Director Patrick W. Gross sold 3,400 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the transaction, the director now owns 69,635 shares in the company, valued at $1,862,039.90. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Perdoceo Education Stock Up 1.5 %

Shares of PRDO opened at $26.82 on Friday. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $29.47. The company has a market capitalization of $1.76 billion, a P/E ratio of 13.48, a price-to-earnings-growth ratio of 0.78 and a beta of 1.04. The firm has a 50 day moving average of $22.69 and a 200 day moving average of $22.56.

Perdoceo Education (NASDAQ:PRDO) last posted its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping 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%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.64 EPS. On average, sell-side analysts expect that Perdoceo Education Co. will post 2.27 EPS for the current year.

Perdoceo Education Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Monday, December 2nd. Perdoceo Education’s payout ratio is presently 26.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Friday. Barrington Research lifted their price target on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Institutional Trading of Perdoceo Education

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its holdings in Perdoceo Education by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company’s stock worth $40,114,000 after purchasing an additional 33,092 shares during the last quarter. Barclays PLC boosted its stake in shares of Perdoceo Education by 353.5% in the 3rd quarter. Barclays PLC now owns 110,622 shares of the company’s stock worth $2,460,000 after buying an additional 86,227 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Perdoceo Education in the third quarter worth $9,374,000. Weiss Asset Management LP purchased a new stake in Perdoceo Education during the third quarter valued at $1,043,000. Finally, Point72 DIFC Ltd bought a new position in Perdoceo Education in the third quarter valued at about $114,000. 93.46% of the stock is currently owned by institutional investors.

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.