Perdoceo Education Co. (NASDAQ:PRDO) Holdings Lifted by Renaissance Technologies LLC

Renaissance Technologies LLC grew its position in Perdoceo Education Co. (NASDAQ:PRDO) by 2.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 4,505,687 shares of the company’s stock after buying an additional 107,918 shares during the period. Renaissance Technologies LLC owned approximately 0.07% of Perdoceo Education worth $96,512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Quest Partners LLC acquired a new stake in shares of Perdoceo Education during the second quarter valued at approximately $39,000. Fifth Third Bancorp raised its holdings in shares of Perdoceo Education by 650.6% during the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after acquiring an additional 1,633 shares during the period. Innealta Capital LLC acquired a new stake in shares of Perdoceo Education during the second quarter valued at approximately $74,000. nVerses Capital LLC acquired a new position in Perdoceo Education in the 2nd quarter valued at approximately $92,000. Finally, Banque Cantonale Vaudoise increased its stake in Perdoceo Education by 9.9% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock valued at $110,000 after buying an additional 565 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Perdoceo Education

In other news, Chairman Gregory L. Jackson sold 26,664 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total transaction of $605,272.80. Following the transaction, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William Dean Hansen sold 13,185 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total transaction of $303,386.85. Following the transaction, the director now owns 39,016 shares in the company, valued at approximately $897,758.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Gregory L. Jackson sold 26,664 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total transaction of $605,272.80. Following the transaction, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The disclosure for this sale can be found here. Insiders have sold a total of 46,325 shares of company stock worth $1,044,656 in the last 90 days. 1.81% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Perdoceo Education Stock Performance

Perdoceo Education stock opened at $22.22 on Tuesday. The firm has a market cap of $1.46 billion, a PE ratio of 9.79, a P/E/G ratio of 0.65 and a beta of 1.03. The firm’s 50 day moving average price is $22.73 and its two-hundred day moving average price is $21.01. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $26.40.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $166.74 million for the quarter, compared to analyst estimates of $160.91 million. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. Equities analysts anticipate that Perdoceo Education Co. will post 2.19 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Sunday, September 1st were paid a dividend of $0.13 per share. This is a positive change from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.34%. Perdoceo Education’s dividend payout ratio is 22.91%.

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.