Perdoceo Education Corporation (NASDAQ:PRDO) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 12.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,717 shares of the company's stock after selling 10,500 shares during the quarter. New York State Common Retirement Fund owned about 0.11% of Perdoceo Education worth $1,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. grew its holdings in shares of Perdoceo Education by 16.3% in the first quarter. Alps Advisors Inc. now owns 84,674 shares of the company's stock valued at $2,132,000 after purchasing an additional 11,876 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Perdoceo Education by 58.9% in the first 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. Calamos Advisors LLC purchased a new position in shares of Perdoceo Education in the first quarter valued at $437,000. Principal Financial Group Inc. grew its holdings in shares of Perdoceo Education by 2.7% in the first quarter. Principal Financial Group Inc. now owns 327,431 shares of the company's stock valued at $8,245,000 after purchasing an additional 8,468 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings 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. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Perdoceo Education

In other news, SVP John Robert Kline sold 71,254 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.75, for a total value of $2,262,314.50. Following the completion of the sale, the senior vice president directly owned 75,868 shares of the company's stock, valued at approximately $2,408,809. This represents a 48.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William Dean Hansen sold 5,994 shares of the 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 completion of the sale, the director directly owned 44,171 shares of the company's stock, valued at $1,394,036.76. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 144,565 shares of company stock valued at $4,550,566. 2.11% of the stock is owned by company insiders.

Perdoceo Education Trading Down 0.3%

NASDAQ PRDO traded down $0.08 on Friday, hitting $28.45. 589,298 shares of the stock were exchanged, compared to its average volume of 681,921. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.43 and a current ratio of 4.46. The stock has a fifty day moving average price of $31.42 and a two-hundred day moving average price of $28.42. The firm has a market capitalization of $1.86 billion, a P/E ratio of 12.59, a P/E/G ratio of 0.76 and a beta of 0.83. Perdoceo Education Corporation has a 52-week low of $20.55 and a 52-week high of $34.60.

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

Perdoceo Education Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Sunday, June 1st were issued a dividend of $0.13 per share. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.83%. Perdoceo Education's dividend payout ratio is currently 23.01%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRDO shares. Barrington Research reissued an "outperform" rating and set a $40.00 price objective on shares of Perdoceo Education in a research note on Tuesday, July 22nd. Wall Street Zen cut Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th.

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.