Ameriprise Financial Inc. Cuts Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Ameriprise Financial Inc. reduced its position in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 578,997 shares of the company's stock after selling 33,737 shares during the period. Ameriprise Financial Inc. owned about 0.88% of Perdoceo Education worth $15,326,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Atria Investments Inc grew its position in Perdoceo Education by 3.6% in the 4th quarter. Atria Investments Inc now owns 10,886 shares of the company's stock worth $288,000 after purchasing an additional 375 shares during the period. Smartleaf Asset Management LLC grew its position in Perdoceo Education by 227.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company's stock worth $34,000 after purchasing an additional 913 shares during the period. Swiss National Bank grew its position in Perdoceo Education by 0.8% in the 4th quarter. Swiss National Bank now owns 122,700 shares of the company's stock worth $3,248,000 after purchasing an additional 1,000 shares during the period. KBC Group NV grew its position in Perdoceo Education by 47.5% in the 4th quarter. KBC Group NV now owns 3,696 shares of the company's stock worth $98,000 after purchasing an additional 1,190 shares during the period. Finally, Quarry LP grew its position in shares of Perdoceo Education by 223.6% during the 4th quarter. Quarry LP now owns 1,793 shares of the company's stock valued at $47,000 after acquiring an additional 1,239 shares during the period. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PRDO has been the subject of a number of recent research reports. Barrington Research boosted their price objective on shares of Perdoceo Education from $35.00 to $38.00 and gave the company an "outperform" rating in a research report on Friday, May 2nd. Wall Street Zen downgraded shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

Insiders Place Their Bets

In other Perdoceo Education news, insider Michele A. Peppers sold 4,038 shares of Perdoceo Education stock in a transaction on Monday, May 12th. The shares were sold at an average price of $32.00, for a total value of $129,216.00. Following the completion of the transaction, the insider now owns 45,876 shares of the company's stock, valued at approximately $1,468,032. The trade was a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Elise Baskel sold 17,818 shares of Perdoceo Education stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $24.16, for a total transaction of $430,482.88. Following the completion of the transaction, the senior vice president now directly owns 93,354 shares of the company's stock, valued at $2,255,432.64. The trade was a 16.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 127,820 shares of company stock worth $3,296,615 in the last three months. Corporate insiders own 2.11% of the company's stock.

Perdoceo Education Price Performance

Perdoceo Education stock traded up $0.30 during mid-day trading on Friday, hitting $31.03. The stock had a trading volume of 591,891 shares, compared to its average volume of 476,153. The firm has a market capitalization of $2.03 billion, a P/E ratio of 14.10, a P/E/G ratio of 0.75 and a beta of 0.79. The company has a current ratio of 4.84, a quick ratio of 5.45 and a debt-to-equity ratio of 0.01. The firm's 50 day moving average is $27.13 and its 200 day moving average is $26.92. Perdoceo Education Co. has a one year low of $20.23 and a one year high of $32.03.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.70 EPS for the quarter, topping the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.60 EPS. On average, sell-side analysts forecast that Perdoceo Education Co. will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Sunday, June 1st will be paid a $0.13 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.68%. Perdoceo Education's dividend payout ratio is currently 23.01%.

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.