Perdoceo Education (NASDAQ:PRDO) Reaches New 1-Year High After Better-Than-Expected Earnings

Perdoceo Education Co. (NASDAQ:PRDO) hit a new 52-week high during mid-day trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $29.84 and last traded at $28.37, with a volume of 53898 shares trading hands. The stock had previously closed at $28.81.

The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. The company had revenue of $176.43 million for the quarter, compared to analysts’ expectations of $160.12 million. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%.

Perdoceo Education Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Saturday, March 1st will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.84%. Perdoceo Education’s dividend payout ratio is presently 26.13%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th. Barrington Research increased their target price on Perdoceo Education from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday.

Insider Activity at Perdoceo Education

In other news, SVP John Robert Kline sold 12,148 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $25.79, for a total value 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 represents a 8.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd S. Nelson sold 12,472 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $26.29, for a total value of $327,888.88. Following the transaction, the chief executive officer now owns 615,697 shares of the company’s stock, valued at $16,186,674.13. The trade was a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Perdoceo Education

Several institutional investors have recently bought and sold shares of PRDO. Atria Investments Inc grew its holdings in shares of Perdoceo Education by 3.6% during the fourth quarter. Atria Investments Inc now owns 10,886 shares of the company’s stock valued at $288,000 after buying an additional 375 shares during the last quarter. Blue Trust Inc. boosted its stake in Perdoceo Education by 38.7% during the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock valued at $38,000 after purchasing an additional 492 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Perdoceo Education by 1.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 55,043 shares of the company’s stock worth $1,457,000 after purchasing an additional 683 shares in the last quarter. Royce & Associates LP raised its stake in shares of Perdoceo Education by 1.0% in the third quarter. Royce & Associates LP now owns 85,631 shares of the company’s stock worth $1,904,000 after purchasing an additional 807 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Perdoceo Education by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company’s stock valued at $34,000 after purchasing an additional 913 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Perdoceo Education Price Performance

The firm has a 50-day moving average of $27.40 and a 200 day moving average of $24.71. The company has a market capitalization of $1.86 billion, a PE ratio of 14.26, a PEG ratio of 0.80 and a beta of 1.07.

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.