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Perdoceo Education Corporation (NASDAQ:PRDO) CFO Sells $1,629,586.70 in Stock

Perdoceo Education logo with Consumer Discretionary background

Key Points

  • Perdoceo Education Corporation's CFO, Ashish R. Ghia, sold 53,081 shares of stock for approximately $1.63 million, reducing his ownership by 25.19%.
  • The company reported a 25.7% increase in revenue year-over-year, with earnings per share of $0.67, surpassing analysts' expectations.
  • Perdoceo has announced a quarterly dividend increase from $0.13 to $0.15 per share, reflecting a 1.9% dividend yield and a payout ratio of 22.51%.
  • Want stock alerts on Perdoceo Education? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Perdoceo Education Corporation (NASDAQ:PRDO - Get Free Report) CFO Ashish R. Ghia sold 53,081 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $30.70, for a total value of $1,629,586.70. Following the completion of the sale, the chief financial officer owned 157,632 shares in the company, valued at approximately $4,839,302.40. The trade was a 25.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Perdoceo Education Stock Performance

Shares of NASDAQ:PRDO traded down $0.33 during midday trading on Monday, reaching $30.91. 859,139 shares of the company traded hands, compared to its average volume of 612,206. The company has a quick ratio of 4.26, a current ratio of 4.27 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 firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.83 and a beta of 0.87. The firm's fifty day moving average price is $30.95 and its two-hundred day moving average price is $28.59.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.02. Perdoceo Education had a return on equity of 17.13% and a net margin of 20.09%. The company had revenue of $209.58 million for the quarter, compared to analyst estimates of $206.92 million. During the same period in the previous year, the company posted $0.60 EPS. The firm's revenue for the quarter was up 25.7% compared to the same quarter last year. On average, equities analysts expect that Perdoceo Education Corporation will post 2.41 earnings per share for the current year.

Perdoceo Education Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Perdoceo Education's previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a yield of 1.9%. Perdoceo Education's dividend payout ratio (DPR) is presently 22.51%.

Analysts Set New Price Targets

PRDO has been the topic of several research reports. Barrington Research restated an "outperform" rating and issued a $40.00 target price on shares of Perdoceo Education in a research note on Friday, August 1st. Wall Street Zen lowered Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research note on Monday, May 5th.

Read Our Latest Research Report on PRDO

Hedge Funds Weigh In On Perdoceo Education

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc bought a new position in Perdoceo Education during the first quarter valued at approximately $25,000. Quarry LP boosted its holdings in Perdoceo Education by 223.6% during the 4th quarter. Quarry LP now owns 1,793 shares of the company's stock valued at $47,000 after acquiring an additional 1,239 shares during the period. New Vernon Capital Holdings II LLC purchased a new stake in Perdoceo Education during the 4th quarter valued at about $127,000. Planned Solutions Inc. purchased a new stake in Perdoceo Education during the 2nd quarter valued at about $201,000. Finally, EMC Capital Management purchased a new stake in Perdoceo Education during the 2nd quarter valued at about $208,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

About Perdoceo Education

(Get Free Report)

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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Insider Buying and Selling by Quarter for Perdoceo Education (NASDAQ:PRDO)

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