Perdoceo Education Co. (NASDAQ:PRDO) Shares Acquired by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lifted its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 32.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 162,797 shares of the company’s stock after purchasing an additional 39,808 shares during the period. Manning & Napier Advisors LLC owned approximately 0.25% of Perdoceo Education worth $4,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP purchased a new position in Perdoceo Education in the 3rd quarter valued at approximately $9,374,000. Millennium Management LLC grew its holdings in Perdoceo Education by 944.8% in the second quarter. Millennium Management LLC now owns 246,659 shares of the company’s stock valued at $5,283,000 after purchasing an additional 223,050 shares during the last quarter. Barclays PLC increased its position in shares of Perdoceo Education by 353.5% in the third quarter. Barclays PLC now owns 110,622 shares of the company’s stock valued at $2,460,000 after buying an additional 86,227 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth $1,836,000. Finally, Squarepoint Ops LLC boosted its position in shares of Perdoceo Education by 296.7% in the 2nd quarter. Squarepoint Ops LLC now owns 96,261 shares of the company’s stock worth $2,062,000 after buying an additional 71,995 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insider Activity at Perdoceo Education

In other news, CEO Todd S. Nelson sold 12,472 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total transaction of $327,888.88. Following the completion of the sale, the chief executive officer now owns 615,697 shares in the company, valued at approximately $16,186,674.13. The trade was a 1.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Robert Kline sold 12,148 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $25.79, for a total transaction of $313,296.92. Following the sale, the senior vice president now directly owns 130,405 shares of the company’s stock, valued at approximately $3,363,144.95. This trade represents a 8.52 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,594 shares of company stock worth $1,541,396. 1.81% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on PRDO shares. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Barrington Research upped their target price on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th.

Perdoceo Education Trading Down 0.9 %

Shares of PRDO stock opened at $28.18 on Thursday. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $29.47. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 0.79 and a beta of 1.06. The firm has a 50-day moving average price of $27.03 and a 200 day moving average price of $24.22.

Perdoceo Education (NASDAQ:PRDO) last announced its earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $169.83 million for the quarter, compared to analyst estimates of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. Perdoceo Education’s revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.64 earnings per share. As a group, research analysts predict that Perdoceo Education Co. will post 2.27 earnings per share for the current year.

Perdoceo Education Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.85%. Perdoceo Education’s payout ratio is currently 26.13%.

Perdoceo Education Company 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.