Hsbc Holdings PLC Sells 3,133 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Hsbc Holdings PLC reduced its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 19.7% in the second quarter, Holdings Channel reports. The institutional investor owned 12,747 shares of the company’s stock after selling 3,133 shares during the period. Hsbc Holdings PLC’s holdings in Perdoceo Education were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its position in Perdoceo Education by 2.5% in the second quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock worth $96,512,000 after buying an additional 107,918 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Perdoceo Education by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,069,173 shares of the company’s stock worth $108,580,000 after acquiring an additional 28,909 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Perdoceo Education in the second quarter worth about $2,519,000. Vest Financial LLC raised its holdings in shares of Perdoceo Education by 12.2% during the 2nd quarter. Vest Financial LLC now owns 52,751 shares of the company’s stock worth $1,130,000 after acquiring an additional 5,716 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Perdoceo Education by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 1,384,674 shares of the company’s stock valued at $29,660,000 after buying an additional 101,575 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Perdoceo Education Stock Down 1.2 %

Shares of Perdoceo Education stock opened at $21.00 on Friday. Perdoceo Education Co. has a 52-week low of $16.12 and a 52-week high of $26.40. The firm’s 50 day moving average price is $22.49 and its 200-day moving average price is $21.35. The company has a market cap of $1.38 billion, a P/E ratio of 9.25, a PEG ratio of 0.67 and a beta of 1.04.

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

Perdoceo Education Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 30th. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. This represents a $0.52 dividend on an annualized basis and a yield of 2.48%. Perdoceo Education’s payout ratio is currently 22.91%.

Insider Buying and Selling at Perdoceo Education

In other Perdoceo Education news, Director William Dean Hansen sold 13,185 shares of Perdoceo Education stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total transaction of $303,386.85. Following the completion of the transaction, the director now owns 39,016 shares in the company, valued at approximately $897,758.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the transaction, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Dean Hansen sold 13,185 shares of the business’s 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 completion of the sale, the director now directly owns 39,016 shares of the company’s stock, valued at approximately $897,758.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,325 shares of company stock valued at $1,044,656. 1.81% of the stock is owned by insiders.

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.