Perdoceo Education Corporation $PRDO Shares Newly Bought by Bank of America Corp DE

Key Points

• Bank of America bought 170,399 shares of Perdoceo Education in the second quarter, valued at approximately $5.45 million. Institutional investors collectively own 93.46% of the company.
• Analyst sentiment remains moderately bullish, with two Buy ratings and one Hold rating and a consensus price target of $44.00. However, Perdoceo’s chairman and CEO sold shares, while insiders own only 1.46% of the stock.
• Perdoceo reported quarterly EPS of $0.80 and revenue of $213.35 million, up 1.8% year over year, and increased its quarterly dividend to $0.17 per share, or a 2.3% annualized yield.

Bank of America Corp DE bought a new stake in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 170,399 shares of the company's stock, valued at approximately $5,453,000. Bank of America Corp DE owned 0.27% of Perdoceo Education at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Freestone Grove Partners LP bought a new position in Perdoceo Education in the second quarter worth approximately $1,122,000. Man Group plc bought a new position in shares of Perdoceo Education in the 2nd quarter worth $477,000. Miller Value Partners LLC purchased a new stake in shares of Perdoceo Education during the 2nd quarter worth $1,289,000. Jupiter Topco LLC purchased a new stake in shares of Perdoceo Education during the 2nd quarter worth $959,000. Finally, Hsbc Holdings PLC bought a new stake in Perdoceo Education during the second quarter valued at about $535,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on PRDO shares. Wall Street Zen cut shares of Perdoceo Education from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Weiss Ratings reissued a "buy (b)" rating on shares of Perdoceo Education in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $44.00.

Insiders Place Their Bets

In related news, Chairman Gregory L. Jackson sold 11,271 shares of Perdoceo Education stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $31.78, for a total value of $358,192.38. Following the completion of the transaction, the chairman owned 64,949 shares in the company, valued at $2,064,079.22. The trade was a 14.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd S. Nelson sold 46,199 shares of the business's stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $32.89, for a total value of $1,519,485.11. Following the completion of the sale, the chief executive officer owned 301,782 shares of the company's stock, valued at $9,925,609.98. This trade represents a 13.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.46% of the stock is currently owned by insiders.

Perdoceo Education Trading Down 1.6%

Shares of NASDAQ PRDO opened at $30.01 on Tuesday. The company has a 50 day simple moving average of $32.40 and a two-hundred day simple moving average of $33.79. Perdoceo Education Corporation has a 12 month low of $26.66 and a 12 month high of $38.50. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 10.95, a PEG ratio of 0.65 and a beta of 0.73.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Perdoceo Education had a net margin of 20.62% and a return on equity of 18.93%. The company had revenue of $213.35 million for the quarter, compared to analyst estimates of $212.50 million. During the same period in the prior year, the company earned $0.67 earnings per share. The firm's revenue was up 1.8% on a year-over-year basis. Perdoceo Education has set its Q3 2026 guidance at 0.730-0.740 EPS and its FY 2026 guidance at 3.100-3.160 EPS. Analysts forecast that Perdoceo Education Corporation will post 3.13 EPS for the current year.

Perdoceo Education Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, September 1st were given a dividend of $0.17 per share. This is a boost from Perdoceo Education's previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a yield of 2.3%. The ex-dividend date was Tuesday, September 1st. Perdoceo Education's dividend payout ratio (DPR) is 24.82%.

Perdoceo Education Profile

Perdoceo Education Corporation is a postsecondary education company that provides career-focused degree and credential programs primarily through online learning platforms. The company serves working adults and other nontraditional students seeking flexible education options in fields such as business, information technology, healthcare, criminal justice and related professional disciplines.

Perdoceo operates primarily through Colorado Technical University and American InterContinental University.

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