Perdoceo Education Corporation (NASDAQ:PRDO) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 54.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,812 shares of the company's stock after selling 31,915 shares during the period. Teacher Retirement System of Texas' holdings in Perdoceo Education were worth $675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PRDO. Allspring Global Investments Holdings LLC boosted its position in Perdoceo Education by 9.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 36,424 shares of the company's stock worth $951,000 after purchasing an additional 3,095 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Perdoceo Education during the first quarter valued at $464,000. GAMMA Investing LLC increased its holdings in Perdoceo Education by 5,773.0% in the first quarter. GAMMA Investing LLC now owns 22,435 shares of the company's stock valued at $565,000 after buying an additional 22,053 shares in the last quarter. Bank of America Corp DE increased its holdings in Perdoceo Education by 21.6% in the fourth quarter. Bank of America Corp DE now owns 140,685 shares of the company's stock valued at $3,724,000 after buying an additional 24,991 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in shares of Perdoceo Education in the fourth quarter worth about $556,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Perdoceo Education

In related news, SVP Julia A. Leeman sold 5,000 shares of Perdoceo Education stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $32.07, for a total transaction of $160,350.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP John Robert Kline sold 71,254 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $31.75, for a total transaction of $2,262,314.50. Following the completion of the sale, the senior vice president owned 75,868 shares in the company, valued at $2,408,809. This represents a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 144,565 shares of company stock worth $4,550,566. Insiders own 2.11% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PRDO. Wall Street Zen lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Barrington Research increased their target price on Perdoceo Education from $38.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, June 6th.

Perdoceo Education Trading Down 0.2%

Shares of NASDAQ PRDO traded down $0.06 during mid-day trading on Friday, reaching $29.65. 1,256,362 shares of the company's stock were exchanged, compared to its average volume of 502,846. The company's 50-day moving average is $31.67 and its 200-day moving average is $28.32. 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 firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.80 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, beating the consensus estimate of $0.66 by $0.04. Perdoceo Education had a return on equity of 17.10% and a net margin of 20.91%. The company had revenue of $213.00 million during the quarter, compared to the consensus estimate of $207.97 million. During the same period in the previous year, the company posted $0.60 EPS. Perdoceo Education's revenue was up 26.6% compared to the same quarter last year. Analysts expect that Perdoceo Education Corporation will post 2.41 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Sunday, June 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.75%. Perdoceo Education's dividend payout ratio is presently 23.01%.

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.