Perdoceo Education (NASDAQ:PRDO) Stock Price Expected to Rise, Barrington Research Analyst Says

Perdoceo Education (NASDAQ:PRDO) had its price objective boosted by equities researchers at Barrington Research from $30.00 to $32.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target points to a potential upside of 14.45% from the company’s current price.

Perdoceo Education Stock Performance

Shares of NASDAQ PRDO traded up $3.09 during midday trading on Wednesday, reaching $27.96. The company’s stock had a trading volume of 970,987 shares, compared to its average volume of 465,673. The company has a market cap of $1.84 billion, a P/E ratio of 14.05, a P/E/G ratio of 0.76 and a beta of 1.04. The business’s 50 day moving average price is $21.95 and its two-hundred day moving average price is $22.29. Perdoceo Education has a fifty-two week low of $16.12 and a fifty-two week high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.06. The firm 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 15.88% and a net margin of 20.42%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.64 EPS. Sell-side analysts forecast that Perdoceo Education will post 2.19 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.81% of the company’s stock.

Institutional Investors Weigh In On Perdoceo Education

A number of hedge funds and other institutional investors have recently bought and sold shares of PRDO. Texas Permanent School Fund Corp grew its stake 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 during the last quarter. Illinois Municipal Retirement Fund increased its stake 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 buying an additional 617 shares during the period. ProShare Advisors LLC raised its holdings in Perdoceo Education by 7.4% during the 1st 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. State Board of Administration of Florida Retirement System raised its stake in Perdoceo Education by 69.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 150,557 shares of the company’s stock worth $2,644,000 after buying an additional 61,734 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Perdoceo Education by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock valued at $103,538,000 after purchasing an additional 45,259 shares during the period. Institutional investors own 93.46% 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.