Perdoceo Education Co. (NASDAQ:PRDO) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Perdoceo Education Co. (NASDAQ:PRDO) by 1.9% during the third quarter, HoldingsChannel reports. The firm owned 1,803,391 shares of the company’s stock after buying an additional 33,092 shares during the quarter. Geode Capital Management LLC’s holdings in Perdoceo Education were worth $40,114,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its stake in Perdoceo Education by 71.3% in the third quarter. Victory Capital Management Inc. now owns 73,819 shares of the company’s stock valued at $1,642,000 after buying an additional 30,725 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Perdoceo Education by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock valued at $96,512,000 after acquiring an additional 107,918 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Perdoceo Education during the 3rd quarter worth about $9,374,000. Quest Partners LLC lifted its stake in Perdoceo Education by 1,107.5% during the third quarter. Quest Partners LLC now owns 22,012 shares of the company’s stock worth $490,000 after purchasing an additional 20,189 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in Perdoceo Education by 3.9% in the second quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock valued at $43,060,000 after purchasing an additional 75,293 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 8th. 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 note on Wednesday, November 13th.

Perdoceo Education Stock Performance

Perdoceo Education stock opened at $26.59 on Wednesday. The stock has a 50-day simple moving average of $25.12 and a 200-day simple moving average of $23.17. The company has a market capitalization of $1.75 billion, a P/E ratio of 13.36, a PEG ratio of 0.81 and a beta of 1.07. Perdoceo Education Co. has a fifty-two week low of $16.12 and a fifty-two week high of $29.47.

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

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a $0.13 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.96%. Perdoceo Education’s dividend payout ratio is presently 26.13%.

Insider Activity

In other news, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the transaction, the director now 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP John Robert Kline sold 30,574 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $26.47, for a total value of $809,293.78. Following the sale, the senior vice president now owns 130,405 shares of the company’s stock, valued at $3,451,820.35. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.81% of the company’s stock.

Perdoceo Education 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.