Perdoceo Education Co. (NASDAQ:PRDO) Stock Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 30,222 shares of the company’s stock after selling 1,084 shares during the period. The Manufacturers Life Insurance Company’s holdings in Perdoceo Education were worth $800,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Barclays PLC boosted its position in shares of Perdoceo Education by 353.5% during the 3rd 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 in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Perdoceo Education in the fourth quarter worth about $358,000. Inspire Investing LLC acquired a new position in shares of Perdoceo Education in the fourth quarter worth about $818,000. Smartleaf Asset Management LLC boosted its holdings in shares of Perdoceo Education by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company’s stock worth $34,000 after buying an additional 913 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Perdoceo Education in the fourth quarter worth about $556,000. Institutional investors own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PRDO. Barrington Research raised their target price on shares of Perdoceo Education from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. StockNews.com cut shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Monday, May 5th.

Perdoceo Education Price Performance

NASDAQ PRDO opened at $30.91 on Thursday. The company has a 50 day simple moving average of $26.23 and a 200-day simple moving average of $26.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 14.05, a price-to-earnings-growth ratio of 0.75 and a beta of 0.79. Perdoceo Education Co. has a 52-week low of $20.23 and a 52-week high of $32.03.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The business had revenue of $213.00 million during the quarter, compared to analyst estimates of $207.97 million. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Equities research analysts predict that Perdoceo Education Co. will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Sunday, June 1st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date is Friday, May 30th. Perdoceo Education’s dividend payout ratio (DPR) is 23.01%.

Insider Transactions at Perdoceo Education

In related news, CEO Todd S. Nelson sold 38,984 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $24.66, for a total transaction of $961,345.44. Following the transaction, the chief executive officer now owns 644,047 shares of the company’s stock, valued at approximately $15,882,199.02. This trade represents a 5.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michele A. Peppers sold 13,091 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $30.00, for a total transaction of $392,730.00. Following the transaction, the insider now directly owns 49,914 shares in the company, valued at approximately $1,497,420. The trade was a 20.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold 127,820 shares of company stock valued at $3,296,615 over the last three months. 2.11% of the stock is owned by corporate insiders.

Perdoceo Education 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.