Sierra Summit Advisors LLC Sells 2,958 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Sierra Summit Advisors LLC decreased its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 9.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,727 shares of the company’s stock after selling 2,958 shares during the period. Sierra Summit Advisors LLC’s holdings in Perdoceo Education were worth $615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Perdoceo Education by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock worth $103,538,000 after purchasing an additional 45,259 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in Perdoceo Education in the 2nd quarter valued at approximately $2,570,000. LSV Asset Management lifted its stake in Perdoceo Education by 59.4% in the 1st quarter. LSV Asset Management now owns 1,934,961 shares of the company’s stock valued at $33,978,000 after acquiring an additional 721,122 shares in the last quarter. SG Americas Securities LLC acquired a new position in Perdoceo Education during the 2nd quarter worth approximately $954,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Perdoceo Education during the 4th quarter worth approximately $922,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Price Performance

Shares of NASDAQ PRDO opened at $22.17 on Monday. The business has a 50-day moving average of $22.72 and a 200-day moving average of $20.98. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.65 and a beta of 1.03. Perdoceo Education Co. has a fifty-two week low of $16.12 and a fifty-two week high of $26.40.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $166.74 million during the quarter, compared to analysts’ expectations of $160.91 million. Perdoceo Education had a return on equity of 16.42% and a net margin of 20.57%. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. On average, sell-side analysts expect that Perdoceo Education Co. will post 2.19 EPS for the current year.

Perdoceo Education Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.35%. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, August 30th. Perdoceo Education’s payout ratio is presently 22.91%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $30.00 price objective on shares of Perdoceo Education in a research report on Wednesday, August 21st.

Insider Buying and Selling

In other news, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the transaction, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director William Dean Hansen sold 13,185 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total value of $303,386.85. Following the sale, the director now owns 39,016 shares in the company, valued at approximately $897,758.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the transaction, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,325 shares of company stock worth $1,044,656. Insiders own 1.81% of the company’s stock.

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.