Louisiana State Employees Retirement System Acquires 500 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Louisiana State Employees Retirement System lifted its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 1.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,000 shares of the company’s stock after purchasing an additional 500 shares during the period. Louisiana State Employees Retirement System owned 0.05% of Perdoceo Education worth $707,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PRDO. LSV Asset Management increased its stake in Perdoceo Education by 59.4% during the first quarter. LSV Asset Management now owns 1,934,961 shares of the company’s stock valued at $33,978,000 after acquiring an additional 721,122 shares during the period. Boston Partners increased its stake in Perdoceo Education by 979.2% during the first quarter. Boston Partners now owns 750,979 shares of the company’s stock valued at $13,376,000 after acquiring an additional 681,391 shares during the period. Goldman Sachs Group Inc. increased its stake in Perdoceo Education by 43.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,217,547 shares of the company’s stock valued at $21,380,000 after acquiring an additional 366,202 shares during the period. Panagora Asset Management Inc. increased its stake in Perdoceo Education by 345.1% during the fourth quarter. Panagora Asset Management Inc. now owns 228,664 shares of the company’s stock valued at $4,015,000 after acquiring an additional 177,286 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in Perdoceo Education during the second quarter valued at about $3,634,000. 93.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Perdoceo Education Trading Down 0.2 %

PRDO stock opened at $22.49 on Friday. Perdoceo Education Co. has a 1-year low of $15.94 and a 1-year high of $26.40. The firm has a market cap of $1.48 billion, a P/E ratio of 9.91, a P/E/G ratio of 0.74 and a beta of 1.02. The business’s 50 day moving average is $22.54 and its 200-day moving average is $20.60.

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

Perdoceo Education Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Sunday, September 1st will be paid a $0.13 dividend. This is a positive change from Perdoceo Education’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, August 30th. Perdoceo Education’s dividend payout ratio is currently 22.91%.

Insider Activity

In other news, Chairman Gregory L. Jackson sold 26,664 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total value of $605,272.80. Following the transaction, the chairman now directly owns 58,644 shares of the company’s stock, valued at approximately $1,331,218.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director William Dean Hansen sold 13,185 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 39,016 shares of the company’s stock, valued at approximately $897,758.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gregory L. Jackson sold 26,664 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the transaction, the chairman now directly owns 58,644 shares in the company, valued at $1,331,218.80. The disclosure for this sale can be found here. Corporate insiders own 1.81% of the company’s stock.

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.