Bfsg LLC Lowers Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Bfsg LLC cut its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 14.9% during the second quarter, Holdings Channel reports. The firm owned 4,575 shares of the company’s stock after selling 800 shares during the quarter. Bfsg LLC’s holdings in Perdoceo Education were worth $98,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in PRDO. Louisiana State Employees Retirement System increased its position in shares of Perdoceo Education by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the company’s stock valued at $707,000 after purchasing an additional 500 shares during the last quarter. Banque Cantonale Vaudoise increased its position in shares of Perdoceo Education by 9.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock valued at $110,000 after purchasing an additional 565 shares during the last quarter. Illinois Municipal Retirement Fund increased its position in shares of Perdoceo Education by 1.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 37,883 shares of the company’s stock valued at $665,000 after purchasing an additional 617 shares during the last quarter. Texas Permanent School Fund Corp increased its position in shares of Perdoceo Education by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 57,489 shares of the company’s stock valued at $1,010,000 after purchasing an additional 743 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in shares of Perdoceo Education by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 13,180 shares of the company’s stock valued at $231,000 after purchasing an additional 906 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Perdoceo Education news, Director William Dean Hansen sold 13,185 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total value of $303,386.85. Following the completion of the sale, the director now directly owns 39,016 shares in the company, valued at approximately $897,758.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Chairman Gregory L. Jackson sold 26,664 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total transaction of $605,272.80. Following the sale, the chairman now owns 58,644 shares of the company’s stock, valued at $1,331,218.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director William Dean Hansen sold 13,185 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total value of $303,386.85. Following the sale, the director now directly owns 39,016 shares in the company, valued at approximately $897,758.16. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and set a $30.00 target price on shares of Perdoceo Education in a research report on Wednesday, August 21st.

Perdoceo Education Stock Performance

Perdoceo Education stock traded down $0.14 during mid-day trading on Friday, hitting $22.22. The company’s stock had a trading volume of 71,026 shares, compared to its average volume of 481,258. The company has a 50 day moving average of $22.57 and a 200-day moving average of $20.61. The stock has a market cap of $1.46 billion, a PE ratio of 9.91, a P/E/G ratio of 0.74 and a beta of 1.02. Perdoceo Education Co. has a one year low of $15.94 and a one year high of $26.40.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $166.74 million for the quarter, compared to the consensus estimate of $160.91 million. Perdoceo Education had a return on equity of 16.42% and a net margin of 20.57%. Perdoceo Education’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. On average, equities research analysts forecast that Perdoceo Education Co. will post 2.21 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Sunday, September 1st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.34%. This is a boost from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date is Friday, August 30th. Perdoceo Education’s dividend payout ratio is currently 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.