Northern Trust Corp Raises Position in Perdoceo Education Co. (NASDAQ:PRDO)

Northern Trust Corp increased its position in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 912,898 shares of the company's stock after acquiring an additional 30,881 shares during the period. Northern Trust Corp owned approximately 1.39% of Perdoceo Education worth $24,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of PRDO. Barclays PLC boosted its holdings in Perdoceo Education by 353.5% in the 3rd quarter. Barclays PLC now owns 110,622 shares of the company's stock worth $2,460,000 after buying an additional 86,227 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Perdoceo Education by 9.6% during the 3rd quarter. Franklin Resources Inc. now owns 278,091 shares of the company's stock valued at $5,954,000 after buying an additional 24,434 shares during the period. Inspire Investing LLC purchased a new stake in shares of Perdoceo Education during the 4th quarter valued at approximately $818,000. Exchange Traded Concepts LLC raised its position in shares of Perdoceo Education by 3.1% during the 4th quarter. Exchange Traded Concepts LLC now owns 207,635 shares of the company's stock valued at $5,496,000 after buying an additional 6,265 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Perdoceo Education by 13.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,995 shares of the company's stock valued at $344,000 after purchasing an additional 1,503 shares during the period. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Buying and Selling at Perdoceo Education

In other news, CEO Todd S. Nelson sold 38,984 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $24.66, for a total transaction of $961,345.44. Following the completion of the transaction, the chief executive officer now directly owns 644,047 shares of the company's stock, valued at $15,882,199.02. This trade represents a 5.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michele A. Peppers sold 13,091 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $30.00, for a total transaction of $392,730.00. Following the transaction, the insider now directly owns 49,914 shares of the company's stock, valued at approximately $1,497,420. This trade represents a 20.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 123,782 shares of company stock valued at $3,167,399. Insiders own 2.11% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. StockNews.com lowered Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th. Barrington Research boosted their price target on shares of Perdoceo Education from $35.00 to $38.00 and gave the stock an "outperform" rating in a research note on Friday, May 2nd.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $31.08 on Tuesday. The company has a current ratio of 4.84, a quick ratio of 5.45 and a debt-to-equity ratio of 0.01. Perdoceo Education Co. has a 12 month low of $20.23 and a 12 month high of $32.03. The company has a market cap of $2.04 billion, a P/E ratio of 14.13, a PEG ratio of 0.75 and a beta of 0.79. The firm has a fifty day moving average price of $25.99 and a 200 day moving average price of $26.42.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The company had revenue of $213.00 million during the quarter, compared to the consensus estimate of $207.97 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Perdoceo Education's revenue for the quarter was up 26.6% on a year-over-year basis. Sell-side analysts predict that Perdoceo Education Co. will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Sunday, June 1st will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Friday, May 30th. Perdoceo Education's dividend payout ratio (DPR) is 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.

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