Perdoceo Education's (PRDO) Outperform Rating Reaffirmed at Barrington Research

Key Points

• Perdoceo Education's stock received an "outperform" rating from Barrington Research, with a target price of $40.00, suggesting a potential upside of 38.99%.
• The company reported earnings of $0.67 per share, exceeding estimates and showing a 25.7% increase in revenue compared to the previous year.
• Insider trading revealed significant sales, with management selling over 131,474 shares in the last three months, highlighting potential shifts in confidence among executives.

Perdoceo Education (NASDAQ:PRDO - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Barrington Research in a research note issued on Friday,Benzinga reports. They currently have a $40.00 target price on the stock. Barrington Research's target price points to a potential upside of 38.99% from the company's previous close.

Separately, Wall Street Zen lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 5th.

Perdoceo Education Stock Performance

Shares of PRDO opened at $28.78 on Friday. Perdoceo Education has a 12 month low of $20.55 and a 12 month high of $34.60. The firm has a fifty day simple moving average of $31.22 and a 200 day simple moving average of $28.47. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 0.77 and a beta of 0.83. The company has a current ratio of 4.46, a quick ratio of 4.43 and a debt-to-equity ratio of 0.01.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $209.58 million for the quarter, compared to analyst estimates of $206.92 million. Perdoceo Education had a net margin of 20.91% and a return on equity of 17.10%. The company's quarterly revenue was up 25.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 earnings per share. Research analysts forecast that Perdoceo Education will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP David C. Czeszewski sold 30,892 shares of the company's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $31.66, for a total value of $978,040.72. Following the transaction, the senior vice president directly owned 92,129 shares in the company, valued at approximately $2,916,804.14. This represents a 25.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William Dean Hansen sold 5,994 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $31.56, for a total transaction of $189,170.64. Following the sale, the director owned 44,171 shares in the company, valued at $1,394,036.76. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 131,474 shares of company stock valued at $4,157,836 in the last three months. Insiders own 2.11% of the company's stock.

Institutional Investors Weigh In On Perdoceo Education

A number of hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of Perdoceo Education in the 2nd quarter valued at approximately $3,962,000. Planned Solutions Inc. acquired a new stake in shares of Perdoceo Education in the 2nd quarter valued at approximately $201,000. Allianz Asset Management GmbH boosted its stake in shares of Perdoceo Education by 11.7% in the 2nd quarter. Allianz Asset Management GmbH now owns 69,295 shares of the company's stock valued at $2,265,000 after purchasing an additional 7,269 shares in the last quarter. Equitable Trust Co. raised its holdings in Perdoceo Education by 3.3% in the 2nd quarter. Equitable Trust Co. now owns 14,024 shares of the company's stock valued at $458,000 after buying an additional 451 shares during the last quarter. Finally, Vest Financial LLC raised its holdings in Perdoceo Education by 17.7% in the 2nd quarter. Vest Financial LLC now owns 158,622 shares of the company's stock valued at $5,185,000 after buying an additional 23,818 shares during the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.

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