Perdoceo Education Corporation (NASDAQ:PRDO) Plans Quarterly Dividend of $0.15

Key Points

• Perdoceo Education Corporation declared a quarterly dividend of $0.15 per share, reflecting a 15.4% increase from the previous dividend of $0.13.
• The company reported earnings of $0.67 per share for the last quarter, surpassing analysts' expectations of $0.65, alongside a revenue increase of 25.7% year-over-year.
• Shares of Perdoceo Education traded up 3.2%, reaching $29.70, with a market capitalization of $1.95 billion.

Perdoceo Education Corporation (NASDAQ:PRDO - Get Free Report) declared a quarterly dividend on Thursday, July 31st, Wall Street Journal reports. Investors of record on Tuesday, September 2nd will be given a dividend of 0.15 per share on Friday, September 12th. This represents a c) dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a 15.4% increase from Perdoceo Education's previous quarterly dividend of $0.13.

Perdoceo Education has a payout ratio of 21.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Perdoceo Education to earn $2.60 per share next year, which means the company should continue to be able to cover its $0.52 annual dividend with an expected future payout ratio of 20.0%.

Perdoceo Education Stock Up 2.5%

Shares of Perdoceo Education stock traded up $0.71 during trading hours on Tuesday, reaching $28.79. 399,910 shares of the company were exchanged, compared to its average volume of 594,868. Perdoceo Education has a 1 year low of $20.55 and a 1 year high of $34.60. The firm has a market cap of $1.89 billion, a PE ratio of 12.47, a PEG ratio of 0.79 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.26 and a current ratio of 4.27. The stock's fifty day moving average is $31.13 and its 200 day moving average is $28.51.

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

Insider Activity

In other Perdoceo Education news, SVP David C. Czeszewski sold 30,892 shares of Perdoceo Education stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $31.66, for a total value of $978,040.72. Following the completion of the sale, the senior vice president directly owned 92,129 shares of the company's stock, valued at approximately $2,916,804.14. The trade was a 25.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Robert Kline sold 71,254 shares of Perdoceo Education stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $31.75, for a total transaction of $2,262,314.50. Following the completion of the sale, the senior vice president directly owned 75,868 shares of the company's stock, valued at $2,408,809. The trade was a 48.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 131,474 shares of company stock worth $4,157,836. 2.11% of the stock is owned by corporate insiders.

Institutional Trading of Perdoceo Education

A number of institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its position in Perdoceo Education by 7.9% during the 4th quarter. First Trust Advisors LP now owns 3,296,208 shares of the company's stock worth $87,251,000 after purchasing an additional 241,147 shares during the period. LSV Asset Management boosted its position in Perdoceo Education by 1.5% in the 1st quarter. LSV Asset Management now owns 1,874,274 shares of the company's stock valued at $47,194,000 after buying an additional 26,969 shares during the last quarter. Geode Capital Management LLC boosted its position in Perdoceo Education by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,817,982 shares of the company's stock valued at $48,129,000 after buying an additional 14,591 shares during the last quarter. American Century Companies Inc. boosted its position in Perdoceo Education by 10.2% in the 1st quarter. American Century Companies Inc. now owns 1,792,952 shares of the company's stock valued at $45,147,000 after buying an additional 165,762 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in Perdoceo Education in the 4th quarter valued at about $47,129,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Perdoceo Education Company 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.