Banque Cantonale Vaudoise Invests $267,000 in Perdoceo Education Corporation (NASDAQ:PRDO)

Key Points

• Banque Cantonale Vaudoise acquired 10,606 shares of Perdoceo Education Corporation, valued at approximately $267,000, during the first quarter of the year.
• Perdoceo Education announced an increase in its quarterly dividend to $0.15 per share, from a previous $0.13, representing an annual yield of 2.0%.
• The company's latest earnings report showed a 25.7% year-over-year revenue increase, with earnings per share of $0.67, exceeding analysts' expectations.

Banque Cantonale Vaudoise bought a new stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 10,606 shares of the company's stock, valued at approximately $267,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Castlekeep Investment Advisors LLC acquired a new position in Perdoceo Education in the fourth quarter valued at approximately $47,129,000. Bank of New York Mellon Corp raised its position in Perdoceo Education by 58.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,088,105 shares of the company's stock valued at $27,398,000 after purchasing an additional 403,157 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Perdoceo Education by 46.1% in the 4th quarter. Millennium Management LLC now owns 871,572 shares of the company's stock valued at $23,071,000 after acquiring an additional 275,129 shares during the last quarter. Wellington Management Group LLP grew its stake in Perdoceo Education by 63.0% during the 4th quarter. Wellington Management Group LLP now owns 686,873 shares of the company's stock worth $18,182,000 after buying an additional 265,401 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Perdoceo Education by 7.9% in the 4th quarter. First Trust Advisors LP now owns 3,296,208 shares of the company's stock valued at $87,251,000 after purchasing an additional 241,147 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRDO. 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 reaffirmed an "outperform" rating and issued a $40.00 target price on shares of Perdoceo Education in a research report on Friday.

Insider Buying and Selling at Perdoceo Education

In related news, SVP Julia A. Leeman sold 5,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $32.07, for a total transaction of $160,350.00. Following the transaction, the senior vice president directly owned 29,677 shares in the company, valued at $951,741.39. The trade was a 14.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP John Robert Kline sold 71,254 shares of Perdoceo Education stock in a transaction that occurred 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 directly owned 75,868 shares in the company, valued at $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. Insiders sold 131,474 shares of company stock valued at $4,157,836 in the last quarter. Corporate insiders own 2.11% of the company's stock.

Perdoceo Education Stock Up 4.4%

PRDO traded up $1.23 on Tuesday, reaching $29.31. The company's stock had a trading volume of 1,386,098 shares, compared to its average volume of 735,094. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 0.74 and a beta of 0.87. Perdoceo Education Corporation has a 1 year low of $20.55 and a 1 year high of $34.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.27 and a quick ratio of 4.26. The business's 50 day moving average is $31.13 and its 200 day moving average is $28.51.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.02. Perdoceo Education had a return on equity of 17.13% and a net margin of 20.09%. The business had revenue of $209.58 million for the quarter, compared to analysts' expectations of $206.92 million. During the same period in the prior year, the firm earned $0.60 EPS. The business's quarterly revenue was up 25.7% on a year-over-year basis. As a group, research analysts forecast that Perdoceo Education Corporation will post 2.41 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.15 per share. This is a positive change from Perdoceo Education's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Tuesday, September 2nd. Perdoceo Education's dividend payout ratio is 22.51%.

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.