Barrington Research Forecasts Strong Price Appreciation for Perdoceo Education (NASDAQ:PRDO) Stock

Perdoceo Education (NASDAQ:PRDO) had its price target increased by Barrington Research from $30.00 to $32.00 in a research report report published on Wednesday morning,Benzinga reports. Barrington Research currently has an outperform rating on the stock. Barrington Research also issued estimates for Perdoceo Education’s Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $2.27 EPS and FY2025 earnings at $2.36 EPS.

Perdoceo Education Price Performance

Perdoceo Education stock opened at $26.55 on Wednesday. The company’s 50 day simple moving average is $22.27 and its 200 day simple moving average is $22.41. Perdoceo Education has a fifty-two week low of $16.12 and a fifty-two week high of $29.47. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 0.82 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The business had revenue of $169.83 million for the quarter, compared to analyst estimates of $164.60 million. During the same quarter last year, the firm earned $0.64 EPS. Perdoceo Education’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts predict that Perdoceo Education will post 2.27 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 1.96%. Perdoceo Education’s dividend payout ratio (DPR) is currently 26.13%.

Insiders Place Their Bets

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 61,952 shares in the company, valued at approximately $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 accessible through this link. Corporate insiders own 1.81% of the company’s stock.

Institutional Trading of Perdoceo Education

Several hedge funds have recently bought and sold shares of PRDO. Geode Capital Management LLC raised its holdings in shares of Perdoceo Education by 1.9% in 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 during the last quarter. Barclays PLC raised its holdings in shares of Perdoceo Education by 353.5% in the third quarter. Barclays PLC now owns 110,622 shares of the company’s stock valued at $2,460,000 after purchasing an additional 86,227 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Perdoceo Education in the third quarter valued at approximately $9,374,000. Weiss Asset Management LP acquired a new stake in shares of Perdoceo Education in the third quarter valued at approximately $1,043,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Perdoceo Education in the third quarter valued at approximately $114,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.