Jennison Associates LLC Takes $717,000 Position in Perdoceo Education Co. (NASDAQ:PRDO)

Jennison Associates LLC purchased a new position in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 40,849 shares of the company's stock, valued at approximately $717,000. Jennison Associates LLC owned about 0.06% of Perdoceo Education at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PRDO. Stratos Wealth Advisors LLC purchased a new stake in shares of Perdoceo Education during the fourth quarter valued at $1,126,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Perdoceo Education during the third quarter valued at $674,000. LSV Asset Management grew its holdings in shares of Perdoceo Education by 11.2% during the third quarter. LSV Asset Management now owns 557,559 shares of the company's stock valued at $9,534,000 after buying an additional 56,300 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Perdoceo Education by 6.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 23,750 shares of the company's stock valued at $406,000 after buying an additional 1,342 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in shares of Perdoceo Education during the third quarter valued at $1,054,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Perdoceo Education news, CEO Todd S. Nelson sold 9,500 shares of the company's stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $18.50, for a total value of $175,750.00. Following the completion of the transaction, the chief executive officer now owns 685,098 shares in the company, valued at $12,674,313. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of the company's stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $17.23, for a total value of $275,680.00. Following the completion of the transaction, the chief executive officer now owns 713,367 shares in the company, valued at $12,291,313.41. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Todd S. Nelson sold 9,500 shares of the company's stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $18.50, for a total transaction of $175,750.00. Following the completion of the transaction, the chief executive officer now owns 685,098 shares of the company's stock, valued at approximately $12,674,313. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,500 shares of company stock worth $1,597,350. Company insiders own 1.81% of the company's stock.

Perdoceo Education Price Performance

NASDAQ:PRDO traded up $0.24 during mid-day trading on Friday, hitting $18.86. The company's stock had a trading volume of 495,025 shares, compared to its average volume of 546,451. Perdoceo Education Co. has a 1 year low of $11.50 and a 1 year high of $19.62. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.59 and a beta of 0.96. The business's fifty day moving average is $17.55 and its two-hundred day moving average is $17.64.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. Perdoceo Education had a net margin of 20.80% and a return on equity of 17.63%. The company had revenue of $147.30 million for the quarter, compared to analyst estimates of $146.20 million. During the same period in the prior year, the company earned $0.31 earnings per share. The firm's revenue was down 16.4% on a year-over-year basis. Analysts anticipate that Perdoceo Education Co. will post 2.12 EPS for the current fiscal year.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.33%. Perdoceo Education's dividend payout ratio (DPR) is currently 20.18%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PRDO shares. Barrington Research reissued an "outperform" rating and set a $23.00 price objective on shares of Perdoceo Education in a report on Monday, April 15th. StockNews.com lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Thursday.

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.