Perdoceo Education Corporation (NASDAQ:PRDO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC cut its holdings in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 17.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 42,548 shares of the company's stock after selling 9,125 shares during the period. Jennison Associates LLC owned 0.06% of Perdoceo Education worth $1,071,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP raised its stake in shares of Perdoceo Education by 7.9% during the 4th quarter. First Trust Advisors LP now owns 3,296,208 shares of the company's stock worth $87,251,000 after acquiring an additional 241,147 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Perdoceo Education by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,817,982 shares of the company's stock worth $48,129,000 after acquiring an additional 14,591 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Perdoceo Education during the 4th quarter worth approximately $47,129,000. Frontier Capital Management Co. LLC raised its stake in shares of Perdoceo Education by 5.1% during the 4th quarter. Frontier Capital Management Co. LLC now owns 1,739,401 shares of the company's stock worth $46,042,000 after acquiring an additional 85,100 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Perdoceo Education by 5.1% during the 4th quarter. American Century Companies Inc. now owns 1,627,190 shares of the company's stock worth $43,072,000 after acquiring an additional 79,686 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Perdoceo Education Stock Performance

Shares of NASDAQ:PRDO traded down $0.21 during midday trading on Thursday, reaching $28.54. The company's stock had a trading volume of 161,676 shares, compared to its average volume of 582,591. The firm has a market capitalization of $1.87 billion, a PE ratio of 12.63, a P/E/G ratio of 0.77 and a beta of 0.83. Perdoceo Education Corporation has a twelve month low of $20.55 and a twelve month high of $34.60. The stock has a fifty day moving average of $31.53 and a 200 day moving average of $28.37. The company has a quick ratio of 4.43, a current ratio of 4.46 and a debt-to-equity ratio of 0.01.

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

Perdoceo Education Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Sunday, June 1st were given a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.82%. Perdoceo Education's dividend payout ratio is presently 23.01%.

Insider Activity at Perdoceo Education

In related news, SVP John Robert Kline sold 71,254 shares of the company's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $31.75, for a total transaction of $2,262,314.50. Following the completion of the transaction, the senior vice president owned 75,868 shares in the company, valued at $2,408,809. This represents a 48.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Sunitha Araamudhu sold 14,296 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $30.69, for a total transaction of $438,744.24. Following the transaction, the senior vice president owned 34,891 shares in the company, valued at $1,070,804.79. The trade was a 29.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,565 shares of company stock valued at $4,550,566 in the last quarter. 2.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PRDO shares. Wall Street Zen downgraded shares of 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 objective on shares of Perdoceo Education in a research note on Tuesday.

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.