Royce & Associates LP Increases Position in Perdoceo Education Co. (NASDAQ:PRDO)

Royce & Associates LP raised its position in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,168 shares of the company’s stock after purchasing an additional 4,537 shares during the period. Royce & Associates LP owned approximately 0.14% of Perdoceo Education worth $2,387,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in shares of Perdoceo Education during the 3rd quarter valued at $9,374,000. Barclays PLC grew its stake in shares of Perdoceo Education by 353.5% during the third quarter. Barclays PLC now owns 110,622 shares of the company’s stock valued at $2,460,000 after buying an additional 86,227 shares during the last quarter. Rothschild Investment LLC increased its holdings in shares of Perdoceo Education by 360.8% in the fourth quarter. Rothschild Investment LLC now owns 85,250 shares of the company’s stock worth $2,257,000 after buying an additional 66,751 shares during the period. Denali Advisors LLC lifted its stake in shares of Perdoceo Education by 34.3% in the 4th quarter. Denali Advisors LLC now owns 203,100 shares of the company’s stock valued at $5,376,000 after acquiring an additional 51,900 shares during the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Perdoceo Education during the 3rd quarter valued at about $1,043,000. Institutional investors own 93.46% of the company’s stock.

Perdoceo Education Stock Down 1.3 %

NASDAQ PRDO opened at $24.48 on Friday. Perdoceo Education Co. has a 1 year low of $16.56 and a 1 year high of $29.84. The stock has a market capitalization of $1.61 billion, a PE ratio of 11.13, a PEG ratio of 0.75 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45. The business’s 50-day moving average is $26.87 and its 200 day moving average is $25.09.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings data on Tuesday, February 18th. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $176.43 million for the quarter, compared to analyst estimates of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. Sell-side analysts forecast that Perdoceo Education Co. will post 2.41 earnings per share for the current year.

Perdoceo Education Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Saturday, March 1st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, February 28th. Perdoceo Education’s dividend payout ratio (DPR) is currently 23.64%.

Wall Street Analyst Weigh In

PRDO has been the topic of a number of analyst reports. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 11th. Barrington Research lifted their target price on shares of Perdoceo Education from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th.

Insiders Place Their Bets

In related news, CEO Todd S. Nelson sold 12,472 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $26.29, for a total value of $327,888.88. Following the completion of the transaction, the chief executive officer now directly owns 615,697 shares of the company’s stock, valued at $16,186,674.13. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John Robert Kline sold 12,148 shares of Perdoceo Education stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $25.79, for a total value of $313,296.92. Following the sale, the senior vice president now directly owns 130,405 shares in the company, valued at approximately $3,363,144.95. The trade was a 8.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

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.