Bank of New York Mellon Corp Grows Position in Perdoceo Education Corporation (NASDAQ:PRDO)

Bank of New York Mellon Corp boosted its position in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 58.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,088,105 shares of the company's stock after purchasing an additional 403,157 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.66% of Perdoceo Education worth $27,398,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in PRDO. Castlekeep Investment Advisors LLC bought a new position in Perdoceo Education in the fourth quarter worth about $47,129,000. Boston Partners raised its holdings in Perdoceo Education by 41.1% in the fourth quarter. Boston Partners now owns 1,209,899 shares of the company's stock worth $32,379,000 after purchasing an additional 352,470 shares in the last quarter. Millennium Management LLC raised its holdings in Perdoceo Education by 46.1% in the fourth quarter. Millennium Management LLC now owns 871,572 shares of the company's stock worth $23,071,000 after purchasing an additional 275,129 shares in the last quarter. Wellington Management Group LLP raised its holdings in Perdoceo Education by 63.0% in the fourth quarter. Wellington Management Group LLP now owns 686,873 shares of the company's stock worth $18,182,000 after purchasing an additional 265,401 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Perdoceo Education by 7.9% in the fourth quarter. First Trust Advisors LP now owns 3,296,208 shares of the company's stock worth $87,251,000 after purchasing an additional 241,147 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Perdoceo Education Stock Down 0.2%

Shares of PRDO stock traded down $0.06 during trading hours on Friday, reaching $29.65. 1,256,360 shares of the company's stock were exchanged, compared to its average volume of 502,720. 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 $1.94 billion, a PE ratio of 13.12, a PEG ratio of 0.78 and a beta of 0.83. The company has a current ratio of 4.46, a quick ratio of 4.43 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average price is $31.70 and its two-hundred day moving average price is $28.29.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.70 earnings per share for the quarter, topping 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 business had revenue of $213.00 million for the quarter, compared to analyst estimates of $207.97 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company's revenue was up 26.6% on a year-over-year basis. Research analysts predict that Perdoceo Education Corporation will post 2.41 EPS for the current year.

Perdoceo Education Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Sunday, June 1st were given a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a yield of 1.75%. Perdoceo Education's dividend payout ratio is currently 23.01%.

Insider Transactions at Perdoceo Education

In related news, SVP Sunitha Araamudhu sold 14,296 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $30.69, for a total value of $438,744.24. Following the sale, the senior vice president owned 34,891 shares in the company, valued at $1,070,804.79. This represents a 29.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Dean Hansen sold 5,994 shares of the company's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $31.56, for a total value of $189,170.64. Following the completion of the sale, the director owned 44,171 shares in the company, valued at approximately $1,394,036.76. This represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,565 shares of company stock valued at $4,550,566 over the last quarter. Company insiders own 2.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PRDO. Barrington Research boosted their target price on shares of 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 downgraded shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Monday, May 5th.

About Perdoceo Education

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.