Public Sector Pension Investment Board Buys 8,072 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Public Sector Pension Investment Board increased its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 5.9% in the second quarter, Holdings Channel.com reports. The firm owned 144,388 shares of the company’s stock after purchasing an additional 8,072 shares during the quarter. Public Sector Pension Investment Board’s holdings in Perdoceo Education were worth $3,093,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in shares of Perdoceo Education by 1.5% during the second quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the company’s stock worth $707,000 after buying an additional 500 shares during the period. Banque Cantonale Vaudoise grew its stake 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 worth $110,000 after acquiring an additional 565 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in shares of Perdoceo Education by 1.7% in the first 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 lifted its position in shares of Perdoceo Education by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 57,489 shares of the company’s stock worth $1,010,000 after purchasing an additional 743 shares in the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Perdoceo Education by 7.4% during the first quarter. ProShare Advisors LLC now owns 13,180 shares of the company’s stock worth $231,000 after purchasing an additional 906 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company’s stock.

Perdoceo Education Stock Performance

Shares of NASDAQ PRDO opened at $22.17 on Friday. The stock has a market capitalization of $1.45 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.67 and a beta of 1.03. Perdoceo Education Co. has a 52 week low of $16.12 and a 52 week high of $26.40. The stock has a 50 day moving average price of $22.69 and a 200 day moving average price of $21.27.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $166.74 million for the quarter, compared to the consensus estimate of $160.91 million. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, research analysts forecast that Perdoceo Education Co. will post 2.19 EPS for the current year.

Perdoceo Education Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were paid a $0.13 dividend. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a yield of 2.35%. The ex-dividend date was Friday, August 30th. Perdoceo Education’s dividend payout ratio (DPR) is 22.91%.

Wall Street Analyst Weigh In

Separately, Barrington Research reissued an “outperform” rating and set a $30.00 price target on shares of Perdoceo Education in a research report on Friday, September 20th.

Insider Buying and Selling

In other news, insider Michele A. Peppers sold 6,476 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the sale, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the sale, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William Dean Hansen sold 13,185 shares of Perdoceo Education stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total transaction of $303,386.85. Following the transaction, the director now directly 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 90 days, insiders sold 46,325 shares of company stock worth $1,044,656. Company 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.