Perdoceo Education (NASDAQ:PRDO) Given “Outperform” Rating at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Perdoceo Education (NASDAQ:PRDO) in a research report sent to investors on Friday morning, Benzinga reports. They currently have a $30.00 price objective on the stock.

Perdoceo Education Trading Down 0.9 %

PRDO opened at $22.02 on Friday. Perdoceo Education has a twelve month low of $16.12 and a twelve month high of $26.40. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 9.70, a PEG ratio of 0.65 and a beta of 1.03. The company has a fifty day simple moving average of $22.80 and a 200 day simple moving average of $21.17.

Perdoceo Education (NASDAQ:PRDO) last announced its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $166.74 million for the quarter, compared to analyst estimates of $160.91 million. Perdoceo Education had a return on equity of 16.42% and a net margin of 20.57%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. On average, analysts forecast that Perdoceo Education will post 2.19 earnings per share for the current fiscal year.

Perdoceo Education Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were issued a $0.13 dividend. The ex-dividend date was Friday, August 30th. This is a boost from Perdoceo Education’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 2.36%. Perdoceo Education’s dividend payout ratio is currently 22.91%.

Insider Buying and Selling at Perdoceo Education

In other news, insider Michele A. Peppers sold 6,476 shares of the company’s 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 sale, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director William Dean Hansen sold 13,185 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total transaction of $303,386.85. Following the transaction, the director now directly owns 39,016 shares in the company, valued at $897,758.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the insider now directly owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. The disclosure for this sale can be found here. Insiders have sold 46,325 shares of company stock worth $1,044,656 in the last ninety days. 1.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

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.