Mackenzie Financial Corp Increases Stock Position in Perdoceo Education Corporation (NASDAQ:PRDO)

Key Points

• Mackenzie Financial Corp increased its holdings in Perdoceo Education Corporation by 21.7%, now owning approximately 0.12% of the company after purchasing an additional 14,084 shares.
• Insider sales included Director William Dean Hansen selling 5,994 shares and SVP Julia A. Leeman selling 5,000 shares, with insiders having sold a total of 131,474 shares worth over $4 million last quarter.
• Perdoceo Education recently announced a dividend increase to $0.15 per quarter, up from $0.13, indicating a 2.0% annual dividend yield.

Mackenzie Financial Corp raised its position in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 21.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,841 shares of the company's stock after purchasing an additional 14,084 shares during the period. Mackenzie Financial Corp owned 0.12% of Perdoceo Education worth $1,985,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Equitable Trust Co. boosted its holdings in shares of Perdoceo Education by 21.6% in the 1st quarter. Equitable Trust Co. now owns 13,573 shares of the company's stock worth $342,000 after buying an additional 2,411 shares during the last quarter. Assetmark Inc. increased its stake in shares of Perdoceo Education by 6.8% in the 1st quarter. Assetmark Inc. now owns 112,122 shares of the company's stock worth $2,823,000 after acquiring an additional 7,163 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of Perdoceo Education by 18.7% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 154,911 shares of the company's stock worth $3,901,000 after purchasing an additional 24,411 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in Perdoceo Education by 12.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 15,261 shares of the company's stock worth $384,000 after acquiring an additional 1,744 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Perdoceo Education by 212.6% during the 1st quarter. Allianz Asset Management GmbH now owns 62,026 shares of the company's stock worth $1,562,000 after buying an additional 42,186 shares during the last quarter. Institutional investors and hedge funds own 93.46% of the company's stock.

Perdoceo Education Stock Performance

PRDO traded down $0.74 during trading on Thursday, hitting $30.54. The company's stock had a trading volume of 539,448 shares, compared to its average volume of 605,443. The business's 50 day simple moving average is $31.04 and its 200-day simple moving average is $28.54. Perdoceo Education Corporation has a one year low of $20.55 and a one year high of $34.60. The company has a quick ratio of 4.26, a current ratio of 4.27 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.98 billion, a PE ratio of 13.23, a P/E/G ratio of 0.78 and a beta of 0.87.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.02. The firm had revenue of $209.58 million during the quarter, compared to analysts' expectations of $206.92 million. Perdoceo Education had a net margin of 20.09% and a return on equity of 17.13%. Perdoceo Education's revenue was up 25.7% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. As a group, sell-side analysts predict 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. Shareholders of record on Tuesday, September 2nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.60 annualized dividend and a yield of 2.0%. This is an increase from Perdoceo Education's previous quarterly dividend of $0.13. Perdoceo Education's dividend payout ratio (DPR) is presently 25.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PRDO. Wall Street Zen lowered Perdoceo Education from a "strong-buy" rating to a "buy" rating in a 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, August 1st.

Insider Buying and Selling

In other news, SVP David C. Czeszewski sold 30,892 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $31.66, for a total transaction of $978,040.72. Following the completion of the sale, the senior vice president owned 92,129 shares in the company, valued at $2,916,804.14. The trade was a 25.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Julia A. Leeman sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 29,677 shares in the company, valued at $951,741.39. This represents a 14.42% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,474 shares of company stock worth $4,157,836. 2.11% of the stock is currently owned by company insiders.

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.