LSV Asset Management Boosts Holdings 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 grew its stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,874,274 shares of the company's stock after buying an additional 26,969 shares during the quarter. LSV Asset Management owned 2.86% of Perdoceo Education worth $47,194,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PRDO. Allspring Global Investments Holdings LLC grew its position in shares of Perdoceo Education by 9.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 36,424 shares of the company's stock valued at $951,000 after purchasing an additional 3,095 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Perdoceo Education during the 1st quarter worth $464,000. Principal Financial Group Inc. boosted its position in shares of Perdoceo Education by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 327,431 shares of the company's stock valued at $8,245,000 after acquiring an additional 8,468 shares during the last quarter. Calamos Advisors LLC purchased a new stake in shares of Perdoceo Education in the first quarter valued at about $437,000. Finally, Allianz Asset Management GmbH increased its position in Perdoceo Education by 212.6% during the first quarter. Allianz Asset Management GmbH now owns 62,026 shares of the company's stock worth $1,562,000 after purchasing an additional 42,186 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Transactions at Perdoceo Education

In other Perdoceo Education news, SVP Julia A. Leeman sold 5,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $32.07, for a total value of $160,350.00. Following the transaction, the senior vice president directly owned 29,677 shares of the company's stock, valued at approximately $951,741.39. The trade was a 14.42% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director William Dean Hansen sold 5,994 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was 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 $1,394,036.76. The trade was a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 131,474 shares of company stock worth $4,157,836 over the last 90 days. Company insiders own 2.11% of the company's stock.

Analyst Ratings Changes

PRDO has been the subject of several analyst reports. Wall Street Zen lowered 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.

Perdoceo Education Trading Down 5.5%

NASDAQ PRDO traded down $1.62 on Monday, reaching $28.08. The stock had a trading volume of 1,158,161 shares, compared to its average volume of 711,646. Perdoceo Education Corporation has a 12-month low of $20.55 and a 12-month high of $34.60. The stock has a fifty day moving average price of $31.19 and a two-hundred day moving average price of $28.51. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 12.16, a P/E/G ratio of 0.79 and a beta of 0.87. The company has a quick ratio of 4.26, a current ratio of 4.27 and a debt-to-equity ratio of 0.01.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.67 EPS 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 during the quarter, compared to the consensus estimate of $206.92 million. During the same period in the previous year, the company posted $0.60 earnings per share. The business's revenue for the quarter was up 25.7% on a year-over-year basis. As a group, sell-side analysts forecast that Perdoceo Education Corporation will post 2.41 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be given a $0.15 dividend. This is a positive change from Perdoceo Education's previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, September 2nd. This represents a $0.60 annualized dividend and a yield of 2.1%. Perdoceo Education's payout ratio is currently 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.