Connor Clark & Lunn Investment Management Ltd. Acquires Shares of 29,586 Perdoceo Education Corporation $PRDO

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 29,586 shares of the company's stock, valued at approximately $745,000.

Other institutional investors have also recently bought and sold shares of the company. IFP Advisors Inc bought a new position in Perdoceo Education in the 1st quarter valued at $25,000. Quarry LP grew its stake in Perdoceo Education by 223.6% in the 4th quarter. Quarry LP now owns 1,793 shares of the company's stock valued at $47,000 after purchasing an additional 1,239 shares during the period. New Vernon Capital Holdings II LLC bought a new position in Perdoceo Education in the 4th quarter valued at $127,000. Point72 Asset Management L.P. grew its stake in Perdoceo Education by 31.7% in the 4th quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company's stock valued at $209,000 after purchasing an additional 1,900 shares during the period. Finally, Jefferies Financial Group Inc. bought a new position in Perdoceo Education in the 1st quarter valued at $206,000. Institutional investors own 93.46% of the company's stock.

Insider Buying and Selling at Perdoceo Education

In related news, SVP John Robert Kline sold 71,254 shares of the stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $31.75, for a total transaction of $2,262,314.50. Following the sale, the senior vice president owned 75,868 shares of the company's stock, valued at approximately $2,408,809. This represents a 48.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Julia A. Leeman sold 5,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $32.07, for a total value of $160,350.00. Following the completion of the sale, the senior vice president directly owned 29,677 shares in the company, valued at approximately $951,741.39. The trade was a 14.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 180,517 shares of company stock worth $5,658,207 in the last three months. 2.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PRDO shares. Wall Street Zen downgraded Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th. Barrington Research reiterated an "outperform" rating and set a $40.00 price target on shares of Perdoceo Education in a research note on Friday, August 1st.

Perdoceo Education Stock Down 0.5%

PRDO stock opened at $31.79 on Monday. The stock has a fifty day moving average of $30.77 and a 200-day moving average of $28.71. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.84 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.26 and a current ratio of 4.27. Perdoceo Education Corporation has a fifty-two week low of $20.55 and a fifty-two week high of $34.60.

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

Perdoceo Education Increases Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.9%. Perdoceo Education's payout ratio is currently 22.51%.

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.

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