Strs Ohio Takes Position in Perdoceo Education Corporation $PRDO

Key Points

• Strs Ohio has acquired a new stake in Perdoceo Education Corporation, purchasing 29,100 shares valued at approximately $733,000 in Q1 2023.
• Perdoceo Education recently declared a quarterly dividend of $0.15, up from the previous $0.13, with a current yield of 1.7%.
• The company reported Q2 earnings exceeding analysts' estimates, with a revenue increase of 25.7% year-over-year, indicating strong financial performance.

Strs Ohio bought a new stake in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 29,100 shares of the company's stock, valued at approximately $733,000.

Several other hedge funds also recently modified their holdings of PRDO. Nuveen LLC acquired a new stake in shares of Perdoceo Education in the first quarter worth approximately $18,758,000. Goldman Sachs Group Inc. increased its stake in Perdoceo Education by 49.7% during the first quarter. Goldman Sachs Group Inc. now owns 1,547,405 shares of the company's stock valued at $38,964,000 after purchasing an additional 513,599 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Perdoceo Education during the first quarter valued at $11,022,000. Millennium Management LLC boosted its holdings in shares of Perdoceo Education by 48.9% during the first quarter. Millennium Management LLC now owns 1,297,465 shares of the company's stock valued at $32,670,000 after acquiring an additional 425,893 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Perdoceo Education by 58.9% during 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 acquiring an additional 403,157 shares during the period. 93.46% of the stock is owned by institutional investors and hedge funds.

Perdoceo Education Trading Down 0.2%

PRDO stock traded down $0.07 during midday trading on Tuesday, reaching $35.81. The stock had a trading volume of 17,492 shares, compared to its average volume of 604,921. The business has a fifty day simple moving average of $31.75 and a two-hundred day simple moving average of $29.87. The company has a quick ratio of 4.26, a current ratio of 4.27 and a debt-to-equity ratio of 0.01. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 0.92 and a beta of 0.91. Perdoceo Education Corporation has a twelve month low of $20.55 and a twelve month high of $36.02.

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 firm had revenue of $209.58 million during the quarter, compared to analyst estimates of $206.92 million. During the same period last year, the company earned $0.60 earnings per share. The company's revenue was up 25.7% on a year-over-year basis. Perdoceo Education has set its Q3 2025 guidance at 0.600-0.620 EPS. FY 2025 guidance at 2.480-2.550 EPS. As a group, research analysts expect that Perdoceo Education Corporation will post 2.41 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Tuesday, September 2nd were given a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.7%. This is a boost from Perdoceo Education's previous quarterly dividend of $0.13. Perdoceo Education's payout ratio is 25.97%.

Insider Activity at Perdoceo Education

In other news, CFO Ashish R. Ghia sold 53,081 shares of the company's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $30.70, for a total transaction of $1,629,586.70. Following the sale, the chief financial officer owned 157,632 shares in the company, valued at $4,839,302.40. This represents a 25.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Greg E. Jansen sold 30,234 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $33.00, for a total value of $997,722.00. Following the transaction, the senior vice president directly owned 96,279 shares in the company, valued at $3,177,207. The trade was a 23.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,656 shares of company stock worth $6,871,148. Insiders own 2.11% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Barrington Research reaffirmed an "outperform" rating and issued a $40.00 price objective on shares of Perdoceo Education in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Perdoceo Education presently has a consensus rating of "Buy" and an average price target of $40.00.

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.