Summit Global Investments Takes Position in Perdoceo Education Co. (NASDAQ:PRDO)

Summit Global Investments purchased a new position in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,708 shares of the company's stock, valued at approximately $697,000. Summit Global Investments owned about 0.06% of Perdoceo Education at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Perdoceo Education during the 3rd quarter worth about $843,000. Raymond James & Associates raised its holdings in Perdoceo Education by 4.7% in the third quarter. Raymond James & Associates now owns 17,757 shares of the company's stock worth $304,000 after purchasing an additional 804 shares during the period. Assetmark Inc. boosted its position in shares of Perdoceo Education by 5.3% during the third quarter. Assetmark Inc. now owns 80,078 shares of the company's stock worth $1,369,000 after purchasing an additional 4,038 shares in the last quarter. Panagora Asset Management Inc. acquired a new position in shares of Perdoceo Education in the 3rd quarter valued at $879,000. Finally, Teacher Retirement System of Texas increased its position in shares of Perdoceo Education by 65.7% in the 3rd quarter. Teacher Retirement System of Texas now owns 104,363 shares of the company's stock valued at $1,785,000 after buying an additional 41,396 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Stock Up 1.0 %

PRDO traded up $0.23 during trading on Friday, hitting $24.34. The company had a trading volume of 1,290,777 shares, compared to its average volume of 666,381. The firm's 50-day moving average price is $17.90 and its 200 day moving average price is $17.74. The company has a market capitalization of $1.60 billion, a PE ratio of 10.72, a PEG ratio of 0.77 and a beta of 0.93. Perdoceo Education Co. has a one year low of $11.50 and a one year high of $24.66.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.07. The company had revenue of $168.30 million for the quarter, compared to analyst estimates of $163.30 million. Perdoceo Education had a return on equity of 17.09% and a net margin of 22.35%. The company's quarterly revenue was down 14.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 earnings per share. Sell-side analysts forecast that Perdoceo Education Co. will post 2.21 earnings per share for the current year.

Perdoceo Education Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st will be issued a $0.11 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.81%. Perdoceo Education's dividend payout ratio (DPR) is presently 19.38%.

Insider Transactions at Perdoceo Education

In related news, CFO Ashish R. Ghia sold 11,412 shares of the firm's stock in a transaction on Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the transaction, the chief financial officer now owns 226,234 shares of the company's stock, valued at $4,298,446. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Ashish R. Ghia sold 11,412 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $19.00, for a total transaction of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares of the company's stock, valued at $4,298,446. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $17.70, for a total transaction of $283,200.00. Following the completion of the transaction, the chief executive officer now directly owns 617,367 shares of the company's stock, valued at approximately $10,927,395.90. The disclosure for this sale can be found here. Insiders have sold a total of 75,412 shares of company stock valued at $1,342,428 over the last 90 days. 1.81% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PRDO has been the subject of several recent analyst reports. StockNews.com downgraded Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Thursday, April 25th. Barrington Research increased their target price on Perdoceo Education from $23.00 to $25.00 and gave the stock an "outperform" rating in a research note on Thursday.

Perdoceo Education 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.