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

Teacher Retirement System of Texas decreased its position in shares of Perdoceo Education Corporation (NASDAQ:PRDO - Free Report) by 54.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,812 shares of the company's stock after selling 31,915 shares during the quarter. 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 recently made changes to their positions in PRDO. Quarry LP grew its holdings in Perdoceo Education by 223.6% in the fourth quarter. Quarry LP now owns 1,793 shares of the company's stock worth $47,000 after purchasing an additional 1,239 shares during the last quarter. New Vernon Capital Holdings II LLC acquired a new position in shares of Perdoceo Education during the fourth quarter valued at about $127,000. Quantbot Technologies LP purchased a new position in shares of Perdoceo Education in the 4th quarter valued at approximately $172,000. Point72 Asset Management L.P. boosted its stake in Perdoceo Education by 31.7% in the 4th quarter. Point72 Asset Management L.P. now owns 7,900 shares of the company's stock worth $209,000 after purchasing an additional 1,900 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in Perdoceo Education during the 4th quarter valued at approximately $215,000. 93.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director William Dean Hansen sold 5,994 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $31.56, for a total transaction of $189,170.64. Following the transaction, the director owned 44,171 shares of the company's stock, valued at approximately $1,394,036.76. The trade was a 11.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michele A. Peppers sold 13,091 shares of Perdoceo Education stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $30.00, for a total transaction of $392,730.00. Following the completion of the transaction, the insider owned 49,914 shares of the company's stock, valued at $1,497,420. This trade represents a 20.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,565 shares of company stock worth $4,550,566 in the last ninety days. Company insiders own 2.11% of the company's stock.

Perdoceo Education Stock Performance

PRDO traded up $0.20 on Thursday, reaching $29.46. The stock had a trading volume of 148,643 shares, compared to its average volume of 497,548. The business's 50-day moving average price is $31.70 and its two-hundred day moving average price is $28.27. The company has a current ratio of 4.46, a quick ratio of 4.43 and a debt-to-equity ratio of 0.01. Perdoceo Education Corporation has a 12-month low of $20.55 and a 12-month high of $34.60. The company has a market cap of $1.93 billion, a P/E ratio of 13.02, a price-to-earnings-growth ratio of 0.79 and a beta of 0.83.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.04. The company had revenue of $213.00 million for 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%. Perdoceo Education's revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. Sell-side analysts forecast that Perdoceo Education Corporation will post 2.41 earnings per share for the current year.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Sunday, June 1st were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, May 30th. Perdoceo Education's dividend payout ratio is currently 23.01%.

About Perdoceo Education

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.