Alliancebernstein L.P. Reduces Stock Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Alliancebernstein L.P. reduced its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 70.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,292 shares of the company's stock after selling 159,950 shares during the period. Alliancebernstein L.P. owned approximately 0.10% of Perdoceo Education worth $1,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PRDO. Atria Investments Inc boosted its stake in shares of Perdoceo Education by 3.6% in the fourth quarter. Atria Investments Inc now owns 10,886 shares of the company's stock worth $288,000 after buying an additional 375 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Perdoceo Education by 227.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company's stock worth $34,000 after buying an additional 913 shares during the last quarter. Swiss National Bank boosted its stake in shares of Perdoceo Education by 0.8% in the fourth quarter. Swiss National Bank now owns 122,700 shares of the company's stock worth $3,248,000 after buying an additional 1,000 shares during the last quarter. KBC Group NV boosted its stake in shares of Perdoceo Education by 47.5% in the fourth quarter. KBC Group NV now owns 3,696 shares of the company's stock worth $98,000 after buying an additional 1,190 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Perdoceo Education by 53.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 3,875 shares of the company's stock worth $103,000 after buying an additional 1,355 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PRDO shares. StockNews.com upgraded Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 11th. Barrington Research increased their price target on Perdoceo Education from $32.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th.

Insider Activity at Perdoceo Education

In other news, CEO Todd S. Nelson sold 38,984 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $24.66, for a total transaction of $961,345.44. Following the sale, the chief executive officer now owns 644,047 shares of the company's stock, valued at approximately $15,882,199.02. This represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Elise Baskel sold 17,818 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $24.16, for a total transaction of $430,482.88. Following the sale, the senior vice president now directly owns 93,354 shares in the company, valued at $2,255,432.64. This represents a 16.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 110,691 shares of company stock valued at $2,774,669. 1.81% of the stock is currently owned by insiders.

Perdoceo Education Price Performance

PRDO stock traded up $0.63 during mid-day trading on Wednesday, reaching $25.51. 26,580 shares of the company's stock were exchanged, compared to its average volume of 476,348. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 11.60, a price-to-earnings-growth ratio of 0.75 and a beta of 0.87. The stock's 50 day moving average is $25.62 and its 200 day moving average is $25.73. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45. Perdoceo Education Co. has a 12-month low of $17.57 and a 12-month high of $29.84.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.02. The business had revenue of $176.43 million for the quarter, compared to the consensus estimate of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. On average, research analysts expect that Perdoceo Education Co. will post 2.41 EPS 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. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 annualized dividend and a dividend yield of 2.04%. Perdoceo Education's dividend payout ratio is presently 23.64%.

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.