Barrington Research Reiterates Outperform Rating for Perdoceo Education (NASDAQ:PRDO)

Perdoceo Education (NASDAQ:PRDO)‘s stock had its “outperform” rating reiterated by stock analysts at Barrington Research in a report released on Friday, Benzinga reports. They presently have a $30.00 price target on the stock. Barrington Research’s price target points to a potential upside of 33.21% from the stock’s current price.

Perdoceo Education Price Performance

Shares of PRDO traded up $0.17 on Friday, reaching $22.52. The company’s stock had a trading volume of 177,738 shares, compared to its average volume of 477,408. Perdoceo Education has a 12-month low of $16.12 and a 12-month high of $26.40. The stock has a market capitalization of $1.48 billion, a P/E ratio of 9.92, a PEG ratio of 0.65 and a beta of 1.03. The stock’s 50 day simple moving average is $22.79 and its two-hundred day simple moving average is $21.06.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data 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. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The firm had revenue of $166.74 million during the quarter, compared to analysts’ expectations of $160.91 million. During the same period in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. Analysts expect that Perdoceo Education will post 2.19 earnings per share for the current year.

Insider Transactions at Perdoceo Education

In other Perdoceo Education news, Director William Dean Hansen sold 13,185 shares of Perdoceo Education stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Perdoceo Education news, Chairman Gregory L. Jackson sold 26,664 shares of the firm’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 transaction of $605,272.80. Following the completion of the transaction, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Dean Hansen sold 13,185 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total value of $303,386.85. Following the transaction, the director now owns 39,016 shares of the company’s stock, valued at $897,758.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,325 shares of company stock valued at $1,044,656. 1.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Perdoceo Education

Several hedge funds have recently made changes to their positions in the business. Quarry LP raised its holdings in shares of Perdoceo Education by 1,306.3% in the second quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after buying an additional 1,254 shares during the period. Quest Partners LLC purchased a new stake in Perdoceo Education in the second quarter worth $39,000. Fifth Third Bancorp increased its stake in Perdoceo Education by 650.6% in the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after purchasing an additional 1,633 shares during the period. Innealta Capital LLC bought a new stake in shares of Perdoceo Education during the second quarter worth $74,000. Finally, nVerses Capital LLC purchased a new stake in shares of Perdoceo Education during the second quarter valued at $92,000. 93.46% of the stock is currently owned by hedge funds and other 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.