Perdoceo Education Co. (NASDAQ:PRDO - Get Free Report)'s share price gapped up prior to trading on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.17, but opened at $27.03. Perdoceo Education shares last traded at $29.88, with a volume of 151,353 shares trading hands.
The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. The firm had revenue of $213.00 million for the quarter, compared to analysts' expectations of $207.97 million. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The firm's quarterly revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share.
Perdoceo Education Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Sunday, June 1st will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.70%. Perdoceo Education's dividend payout ratio (DPR) is presently 23.01%.
Analyst Upgrades and Downgrades
PRDO has been the topic of a number of research analyst reports. Barrington Research raised their target price on shares of Perdoceo Education from $35.00 to $38.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. StockNews.com cut Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research note on Monday.
Read Our Latest Research Report on PRDO
Insider Buying and Selling at Perdoceo Education
In other Perdoceo Education news, CFO Ashish R. Ghia sold 6,236 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $25.00, for a total transaction of $155,900.00. Following the transaction, the chief financial officer now owns 252,130 shares in the company, valued at $6,303,250. This trade represents a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Todd S. Nelson sold 38,984 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $24.66, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 123,782 shares of company stock valued at $3,167,399 in the last 90 days. 2.11% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Perdoceo Education
Hedge funds have recently added to or reduced their stakes in the stock. IFP Advisors Inc bought a new position in shares of Perdoceo Education in the 1st quarter valued at $25,000. Smartleaf Asset Management LLC raised its holdings in shares of Perdoceo Education by 227.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,315 shares of the company's stock worth $34,000 after acquiring an additional 913 shares during the last quarter. Quarry LP lifted its position in shares of Perdoceo Education by 223.6% during 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 in the last quarter. R Squared Ltd bought a new stake in Perdoceo Education during the fourth quarter worth $60,000. Finally, KBC Group NV increased its stake in shares of Perdoceo Education by 47.5% during the 4th quarter. KBC Group NV now owns 3,696 shares of the company's stock worth $98,000 after purchasing an additional 1,190 shares during the last quarter. Institutional investors own 93.46% of the company's stock.
Perdoceo Education Stock Performance
The company's fifty day simple moving average is $25.59 and its 200 day simple moving average is $26.12. 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 firm has a market capitalization of $2.00 billion, a PE ratio of 13.87, a P/E/G ratio of 0.75 and a beta of 0.79.
Perdoceo Education Company Profile
(
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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