Verition Fund Management LLC Has $603,000 Stock Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Verition Fund Management LLC increased its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 183.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,122 shares of the company’s stock after buying an additional 17,538 shares during the period. Verition Fund Management LLC’s holdings in Perdoceo Education were worth $603,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of Perdoceo Education by 13.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,680 shares of the company’s stock valued at $329,000 after purchasing an additional 2,189 shares during the last quarter. SG Americas Securities LLC bought a new position in Perdoceo Education in the 2nd quarter valued at $954,000. Assenagon Asset Management S.A. bought a new position in Perdoceo Education in the 2nd quarter valued at $3,634,000. Fifth Third Bancorp increased its stake in shares of Perdoceo Education by 650.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after buying an additional 1,633 shares during the period. Finally, Louisiana State Employees Retirement System raised 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 acquiring an additional 500 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

Insider Activity at Perdoceo Education

In related news, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $26.47, for a total transaction of $809,293.78. Following the sale, the senior vice president now owns 130,405 shares of the company’s stock, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.74, for a total value of $90,916.00. Following the completion of the transaction, the director now directly owns 69,635 shares of the company’s stock, valued at approximately $1,862,039.90. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.81% of the company’s stock.

Perdoceo Education Stock Performance

Shares of Perdoceo Education stock opened at $27.53 on Wednesday. The firm has a fifty day moving average of $23.96 and a two-hundred day moving average of $22.86. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 0.79 and a beta of 1.07. Perdoceo Education Co. has a 52 week low of $16.12 and a 52 week high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The business had revenue of $169.83 million during the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the prior year, the company posted $0.64 earnings per share. The firm’s revenue was down 5.6% on a year-over-year basis. As a group, research analysts forecast that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.89%. The ex-dividend date is Monday, December 2nd. Perdoceo Education’s payout ratio is 26.13%.

Wall Street Analyst Weigh In

PRDO has been the topic of several recent research reports. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Sunday. Barrington Research lifted their price target on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

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.