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

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

Other hedge funds have also recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in Perdoceo Education by 58.9% in the first quarter. Bank of New York Mellon Corp now owns 1,088,105 shares of the company's stock worth $27,398,000 after purchasing an additional 403,157 shares in the last quarter. Calamos Advisors LLC acquired a new stake in Perdoceo Education in the first quarter valued at approximately $437,000. Principal Financial Group Inc. grew its stake in Perdoceo Education by 2.7% in the first quarter. Principal Financial Group Inc. now owns 327,431 shares of the company's stock valued at $8,245,000 after acquiring an additional 8,468 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Perdoceo Education by 9.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 36,424 shares of the company's stock valued at $951,000 after acquiring an additional 3,095 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in Perdoceo Education by 1.4% in the first quarter. SummerHaven Investment Management LLC now owns 36,624 shares of the company's stock valued at $922,000 after acquiring an additional 500 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on PRDO shares. Wall Street Zen cut Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Barrington Research lifted their target price on Perdoceo Education from $38.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, June 6th.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, Director William Dean Hansen sold 5,994 shares of the business's stock in a transaction that occurred 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 of the company's stock, valued at $1,394,036.76. The trade was a 11.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David C. Czeszewski sold 30,892 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $31.66, for a total value of $978,040.72. Following the sale, the senior vice president directly owned 92,129 shares in the company, valued at $2,916,804.14. The trade was a 25.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,565 shares of company stock valued at $4,550,566 in the last ninety days. Corporate insiders own 2.11% of the company's stock.

Perdoceo Education Stock Performance

Shares of PRDO traded down $0.08 during mid-day trading on Wednesday, hitting $29.25. The stock had a trading volume of 681,904 shares, compared to its average volume of 499,309. The firm has a market cap of $1.92 billion, a P/E ratio of 12.94, a PEG ratio of 0.78 and a beta of 0.83. The business has a fifty day moving average price of $31.73 and a 200-day moving average price of $28.26. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.46 and a quick ratio of 4.43. Perdoceo Education Corporation has a 52 week low of $20.55 and a 52 week high of $34.60.

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

Perdoceo Education Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Sunday, June 1st were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.78%. The ex-dividend date was Friday, May 30th. Perdoceo Education's payout ratio is currently 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.