Perdoceo Education (NASDAQ:PRDO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Perdoceo Education (NASDAQ:PRDO) from a strong-buy rating to a buy rating in a research report sent to investors on Friday.

Separately, Barrington Research lifted their target price on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

Perdoceo Education Stock Up 1.4 %

NASDAQ:PRDO opened at $27.72 on Friday. Perdoceo Education has a 12-month low of $16.12 and a 12-month high of $29.47. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 0.80 and a beta of 1.04. The stock’s 50 day moving average price is $22.90 and its two-hundred day moving average price is $22.59.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The business had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. During the same quarter in the prior year, the business earned $0.64 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that Perdoceo Education will post 2.27 EPS for the current year.

Perdoceo Education Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 1.88%. Perdoceo Education’s dividend payout ratio (DPR) is presently 26.13%.

Insider Buying and Selling at Perdoceo Education

In other Perdoceo Education news, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.74, for a total value of $90,916.00. Following the completion of the sale, the director now owns 69,635 shares of the company’s stock, valued at $1,862,039.90. The trade was a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John Robert Kline sold 30,574 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $26.47, for a total transaction of $809,293.78. Following the transaction, the senior vice president now owns 130,405 shares in the company, valued at approximately $3,451,820.35. The trade was a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,450 shares of company stock valued at $1,036,206 in the last ninety days. 1.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Perdoceo Education

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRDO. Quarry LP lifted its holdings in shares of Perdoceo Education by 1,306.3% during the 2nd quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after acquiring an additional 1,254 shares during the period. Blue Trust Inc. lifted its stake in Perdoceo Education by 38.7% during the third quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after purchasing an additional 492 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Perdoceo Education in the 2nd quarter valued at $39,000. Fifth Third Bancorp increased its stake in shares of Perdoceo Education by 650.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth $74,000. 93.46% of the stock is owned by institutional investors and hedge funds.

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.