LSV Asset Management Grows Position in Perdoceo Education Corporation (NASDAQ:PRDO)

Key Points

• LSV Asset Management increased its stake in Perdoceo Education Corporation by 1.5%, owning 1,874,274 shares valued at approximately $47.2 million.
• Perdoceo Education recently announced a quarterly dividend of $0.15 per share, representing an increase from the previous $0.13 dividend, with a yield of 2.0%.
• The company reported earnings of $0.67 per share for the last quarter, exceeding analyst expectations and reflecting a year-over-year revenue growth of 25.7%.

LSV Asset Management raised its position in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,874,274 shares of the company's stock after acquiring an additional 26,969 shares during the quarter. LSV Asset Management owned approximately 2.86% of Perdoceo Education worth $47,194,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP increased its holdings in 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 buying an additional 241,147 shares during the period. Geode Capital Management LLC increased its holdings in Perdoceo Education by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,817,982 shares of the company's stock valued at $48,129,000 after buying an additional 14,591 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Perdoceo Education in the 4th quarter valued at about $47,129,000. Frontier Capital Management Co. LLC increased its holdings in Perdoceo Education by 5.1% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,739,401 shares of the company's stock valued at $46,042,000 after buying an additional 85,100 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of 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. Institutional investors and hedge funds own 93.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Barrington Research restated an "outperform" rating and issued a $40.00 price target on shares of Perdoceo Education in a research note on Friday, August 1st. 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.

Perdoceo Education Trading Down 2.4%

NASDAQ:PRDO traded down $0.75 during mid-day trading on Thursday, hitting $30.53. 539,448 shares of the company's stock were exchanged, compared to its average volume of 605,443. The company has a 50 day simple moving average of $31.04 and a 200-day simple moving average of $28.54. The company has a current ratio of 4.27, a quick ratio of 4.26 and a debt-to-equity ratio of 0.01. Perdoceo Education Corporation has a fifty-two week low of $20.55 and a fifty-two week high of $34.60. The firm has a market capitalization of $1.98 billion, a P/E ratio of 13.23, a PEG ratio of 0.78 and a beta of 0.87.

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

Perdoceo Education Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd will be given a $0.15 dividend. This is an increase from Perdoceo Education's previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, September 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.0%. Perdoceo Education's dividend payout ratio is presently 25.97%.

Insider Transactions at Perdoceo Education

In other news, Director William Dean Hansen sold 5,994 shares of the business'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 transaction, the director owned 44,171 shares in the company, valued at approximately $1,394,036.76. The trade was a 11.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John Robert Kline sold 71,254 shares of Perdoceo Education stock in a transaction on 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 sale, the senior vice president owned 75,868 shares of the company's stock, valued at $2,408,809. This represents a 48.43% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,474 shares of company stock worth $4,157,836. Company insiders own 2.11% of the company's stock.

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.