Perdoceo Education (NASDAQ:PRDO) Given New $38.00 Price Target at Barrington Research

Perdoceo Education (NASDAQ:PRDO - Get Free Report) had its price target increased by equities researchers at Barrington Research from $35.00 to $38.00 in a research report issued on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Barrington Research's price objective indicates a potential upside of 50.97% from the company's current price.

Separately, StockNews.com upgraded shares of Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 11th.

Perdoceo Education Stock Performance

NASDAQ PRDO opened at $25.17 on Friday. The company has a fifty day moving average of $25.28 and a two-hundred day moving average of $25.89. The company has a market capitalization of $1.65 billion, a PE ratio of 11.44, a P/E/G ratio of 0.75 and a beta of 0.87. Perdoceo Education has a 1 year low of $19.71 and a 1 year high of $29.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings results 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 return on equity of 16.85% and a net margin of 21.66%. The firm had revenue of $213.00 million for the quarter, compared to analysts' expectations of $207.97 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's revenue for the quarter was up 26.6% on a year-over-year basis. As a group, analysts expect that Perdoceo Education will post 2.41 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Elise Baskel sold 17,818 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $24.16, for a total value of $430,482.88. Following the sale, the senior vice president now owns 93,354 shares of the company's stock, valued at approximately $2,255,432.64. This represents a 16.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd S. Nelson sold 38,984 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $24.66, for a total value 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 approximately $15,882,199.02. This trade represents a 5.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,691 shares of company stock worth $2,774,669 in the last three months. Corporate insiders own 2.11% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRDO. Smartleaf Asset Management LLC lifted its stake in shares of Perdoceo Education by 227.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company's stock valued at $34,000 after buying an additional 913 shares during the period. Quarry LP grew its position in shares of Perdoceo Education by 223.6% in the fourth quarter. Quarry LP now owns 1,793 shares of the company's stock valued at $47,000 after purchasing an additional 1,239 shares during the period. R Squared Ltd acquired a new position in Perdoceo Education in the fourth quarter valued at $60,000. KBC Group NV increased its stake in Perdoceo Education by 47.5% in the fourth quarter. KBC Group NV now owns 3,696 shares of the company's stock valued at $98,000 after purchasing an additional 1,190 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Perdoceo Education by 53.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 3,875 shares of the company's stock worth $103,000 after buying an additional 1,355 shares during the period. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

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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