Comerica Bank Grows Position in Perdoceo Education Co. (NASDAQ:PRDO)

Comerica Bank raised its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 73.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,395 shares of the company's stock after purchasing an additional 15,843 shares during the quarter. Comerica Bank owned approximately 0.06% of Perdoceo Education worth $990,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PRDO. Boston Partners lifted its holdings in Perdoceo Education by 41.1% during the fourth quarter. Boston Partners now owns 1,209,899 shares of the company's stock valued at $32,379,000 after purchasing an additional 352,470 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Perdoceo Education by 63.0% during the fourth quarter. Wellington Management Group LLP now owns 686,873 shares of the company's stock valued at $18,182,000 after buying an additional 265,401 shares during the period. First Trust Advisors LP increased its position in shares of Perdoceo Education by 7.9% during the fourth quarter. First Trust Advisors LP now owns 3,296,208 shares of the company's stock valued at $87,251,000 after buying an additional 241,147 shares during the period. JPMorgan Chase & Co. increased its position in shares of Perdoceo Education by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 742,342 shares of the company's stock valued at $19,650,000 after buying an additional 160,162 shares during the period. Finally, Kennondale Capital Management LLC bought a new stake in shares of Perdoceo Education during the fourth quarter valued at about $2,558,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Michele A. Peppers sold 13,091 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $30.00, for a total transaction of $392,730.00. Following the completion of the transaction, the insider now directly owns 49,914 shares in the company, valued at $1,497,420. This trade represents a 20.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ashish R. Ghia sold 6,236 shares of the firm's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $25.00, for a total value of $155,900.00. Following the transaction, the chief financial officer now owns 252,130 shares of the company's stock, valued at $6,303,250. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 123,782 shares of company stock valued at $3,167,399 over the last quarter. 2.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PRDO. Barrington Research upped their price objective on shares of Perdoceo Education from $35.00 to $38.00 and gave the stock an "outperform" rating in a research report on Friday, May 2nd. StockNews.com cut shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

Perdoceo Education Stock Up 0.1%

Shares of NASDAQ PRDO opened at $31.08 on Tuesday. Perdoceo Education Co. has a one year low of $20.23 and a one year high of $32.03. 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 firm's 50 day simple moving average is $25.99 and its two-hundred day simple moving average is $26.42. The stock has a market capitalization of $2.04 billion, a P/E ratio of 14.13, a PEG ratio of 0.75 and a beta of 0.79.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.04. The business had revenue of $213.00 million for the quarter, compared to analysts' expectations of $207.97 million. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The business's quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. As a group, analysts expect that Perdoceo Education Co. will post 2.41 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Sunday, June 1st will be paid a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, May 30th. Perdoceo Education's payout ratio is 23.01%.

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.

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