Perdoceo Education Co. (NASDAQ:PRDO) CEO Sells $284,320.00 in Stock

Perdoceo Education Co. (NASDAQ:PRDO) CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $17.77, for a total value of $284,320.00. Following the transaction, the chief executive officer now directly owns 649,367 shares in the company, valued at approximately $11,539,251.59. The transaction was disclosed in a filing with the SEC, which is available at this link.

Perdoceo Education Stock Performance

Perdoceo Education stock traded up $0.02 during midday trading on Tuesday, reaching $17.70. The stock had a trading volume of 388,488 shares, compared to its average volume of 488,588. Perdoceo Education Co. has a twelve month low of $11.50 and a twelve month high of $19.62. The stock has a market capitalization of $1.16 billion, a PE ratio of 8.12, a price-to-earnings-growth ratio of 0.56 and a beta of 0.97. The stock’s 50-day simple moving average is $17.73 and its 200 day simple moving average is $17.55.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.04. The company had revenue of $147.30 million for the quarter, compared to analysts’ expectations of $146.20 million. Perdoceo Education had a return on equity of 17.63% and a net margin of 20.80%. The firm’s quarterly revenue was down 16.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 earnings per share. Equities analysts predict that Perdoceo Education Co. will post 2.12 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Thursday, February 29th. Perdoceo Education’s dividend payout ratio is presently 20.18%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Perdoceo Education by 2.8% in the first quarter. Vanguard Group Inc. now owns 5,930,315 shares of the company’s stock worth $68,079,000 after acquiring an additional 158,927 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Perdoceo Education by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,064,870 shares of the company’s stock valued at $88,940,000 after purchasing an additional 74,877 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Perdoceo Education by 1.3% during the second quarter. Renaissance Technologies LLC now owns 4,260,787 shares of the company’s stock valued at $52,280,000 after purchasing an additional 54,000 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Perdoceo Education by 1.7% during the second quarter. State Street Corp now owns 2,765,978 shares of the company’s stock valued at $32,583,000 after purchasing an additional 47,046 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th. Barrington Research reissued an “outperform” rating and set a $23.00 price target on shares of Perdoceo Education in a research report on Friday, February 9th.

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.