Alps Advisors Inc. Boosts Stock Position in Perdoceo Education Corporation (NASDAQ:PRDO)

Alps Advisors Inc. increased its holdings in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 16.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,674 shares of the company's stock after acquiring an additional 11,876 shares during the quarter. Alps Advisors Inc. owned about 0.13% of Perdoceo Education worth $2,132,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PRDO. Charles Schwab Investment Management Inc. lifted its holdings in shares of Perdoceo Education by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 950,573 shares of the company's stock worth $25,162,000 after acquiring an additional 5,748 shares during the period. Atria Investments Inc raised its position in shares of Perdoceo Education by 3.6% during the fourth quarter. Atria Investments Inc now owns 10,886 shares of the company's stock worth $288,000 after acquiring an additional 375 shares during the last quarter. HighTower Advisors LLC raised its position in shares of Perdoceo Education by 12.6% during the fourth quarter. HighTower Advisors LLC now owns 40,811 shares of the company's stock worth $1,080,000 after acquiring an additional 4,559 shares during the last quarter. Swiss National Bank raised its position in shares of Perdoceo Education by 0.8% during the fourth quarter. Swiss National Bank now owns 122,700 shares of the company's stock worth $3,248,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Vestcor Inc raised its position in shares of Perdoceo Education by 14.7% during the fourth quarter. Vestcor Inc now owns 34,436 shares of the company's stock worth $912,000 after acquiring an additional 4,424 shares during the last quarter. 93.46% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on PRDO. Barrington Research lifted their target price on Perdoceo Education from $38.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, June 6th. Wall Street Zen cut Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

Perdoceo Education Stock Performance

PRDO stock traded down $0.22 during midday trading on Friday, hitting $29.31. The company's stock had a trading volume of 604,701 shares, compared to its average volume of 498,411. The stock's 50-day moving average price is $31.78 and its 200 day moving average price is $28.23. The company has a quick ratio of 4.43, a current ratio of 4.46 and a debt-to-equity ratio of 0.01. Perdoceo Education Corporation has a 1 year low of $20.55 and a 1 year high of $34.60. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 0.78 and a beta of 0.83.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.04. Perdoceo Education had a return on equity of 17.10% and a net margin of 20.91%. The business had revenue of $213.00 million for the quarter, compared to analysts' expectations of $207.97 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The business's revenue was up 26.6% on a year-over-year basis. On average, equities analysts forecast that Perdoceo Education Corporation will post 2.41 EPS for the current year.

Perdoceo Education Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Sunday, June 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.77%. Perdoceo Education's dividend payout ratio is presently 23.01%.

Insider Activity

In related news, Director William Dean Hansen sold 5,994 shares of the business's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $31.56, for a total transaction of $189,170.64. Following the sale, the director directly owned 44,171 shares in the company, valued at approximately $1,394,036.76. The trade was a 11.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John Robert Kline sold 71,254 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $31.75, for a total value of $2,262,314.50. Following the sale, the senior vice president owned 75,868 shares in the company, valued at approximately $2,408,809. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,565 shares of company stock worth $4,550,566. 2.11% of the stock is owned by company insiders.

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.