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

Perdoceo Education (NASDAQ:PRDO - Free Report) had its target price increased by Barrington Research from $35.00 to $38.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

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 Up 0.0 %

Shares of NASDAQ:PRDO traded up $0.01 during trading on Friday, hitting $30.51. 232,707 shares of the company were exchanged, compared to its average volume of 468,041. The firm's 50 day moving average price is $25.59 and its 200-day moving average price is $26.12. Perdoceo Education has a 12-month low of $20.23 and a 12-month high of $31.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45. The stock has a market capitalization of $2.00 billion, a P/E ratio of 13.86, a PEG ratio of 0.75 and a beta of 0.79.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.04. The company had revenue of $213.00 million for the quarter, compared to analyst estimates of $207.97 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. The business's quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. On average, research analysts predict that Perdoceo Education will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Sunday, June 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Friday, May 30th. Perdoceo Education's payout ratio is currently 23.01%.

Insider Activity

In related news, CEO Todd S. Nelson sold 38,984 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $24.66, for a total value of $961,345.44. Following the transaction, the chief executive officer now owns 644,047 shares in the company, valued at approximately $15,882,199.02. The trade was a 5.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michele A. Peppers sold 13,091 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $30.00, for a total value of $392,730.00. Following the sale, the insider now owns 49,914 shares of the company's stock, valued at approximately $1,497,420. This trade represents a 20.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,782 shares of company stock worth $3,167,399. 2.11% of the stock is currently owned by corporate insiders.

Institutional Trading of Perdoceo Education

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC boosted its position in Perdoceo Education by 353.5% during the 3rd quarter. Barclays PLC now owns 110,622 shares of the company's stock valued at $2,460,000 after purchasing an additional 86,227 shares during the period. World Investment Advisors LLC purchased a new position in Perdoceo Education during the 3rd quarter valued at about $647,000. Franklin Resources Inc. increased its position in Perdoceo Education by 9.6% in the 3rd quarter. Franklin Resources Inc. now owns 278,091 shares of the company's stock worth $5,954,000 after purchasing an additional 24,434 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Perdoceo Education by 3.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 582,180 shares of the company's stock valued at $12,948,000 after buying an additional 16,720 shares in the last quarter. Finally, Inspire Investing LLC bought a new stake in Perdoceo Education in the fourth quarter worth approximately $818,000. Institutional investors own 93.46% of the company's stock.

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.