Perdoceo Education Co. (NASDAQ:PRDO) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 2.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 944,825 shares of the company's stock after selling 27,452 shares during the period. Charles Schwab Investment Management Inc. owned about 1.44% of Perdoceo Education worth $21,013,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PRDO. Intech Investment Management LLC increased its holdings in Perdoceo Education by 220.8% in the third quarter. Intech Investment Management LLC now owns 56,839 shares of the company's stock valued at $1,264,000 after buying an additional 39,121 shares in the last quarter. Jennison Associates LLC grew its position in shares of Perdoceo Education by 23.8% during the 3rd quarter. Jennison Associates LLC now owns 53,170 shares of the company's stock valued at $1,183,000 after acquiring an additional 10,231 shares during the period. Banque Cantonale Vaudoise raised its holdings in Perdoceo Education by 59.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,606 shares of the company's stock worth $236,000 after purchasing an additional 3,966 shares during the period. Quest Partners LLC boosted its position in Perdoceo Education by 1,107.5% during the third quarter. Quest Partners LLC now owns 22,012 shares of the company's stock worth $490,000 after purchasing an additional 20,189 shares in the last quarter. Finally, Empowered Funds LLC boosted its position in Perdoceo Education by 1.2% during the third quarter. Empowered Funds LLC now owns 485,552 shares of the company's stock worth $10,799,000 after purchasing an additional 5,571 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company's stock.

Insider Activity at Perdoceo Education

In other news, Director Patrick W. Gross sold 3,400 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.74, for a total transaction of $90,916.00. Following the transaction, the director now owns 69,635 shares of the company's stock, valued at approximately $1,862,039.90. The trade was a 4.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michele A. Peppers sold 6,476 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the sale, the insider now owns 61,952 shares of the company's stock, valued at approximately $1,300,992. The trade was a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,450 shares of company stock valued at $1,036,206. Corporate insiders own 1.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Barrington Research upped their target price on Perdoceo Education from $30.00 to $32.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 13th. StockNews.com lowered shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Saturday, November 30th.

Perdoceo Education Price Performance

PRDO stock traded down $0.36 during trading on Friday, hitting $26.88. The stock had a trading volume of 284,716 shares, compared to its average volume of 451,877. The company's 50-day moving average price is $23.87 and its two-hundred day moving average price is $22.84. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $29.47. The stock has a market capitalization of $1.77 billion, a P/E ratio of 13.51, a PEG ratio of 0.80 and a beta of 1.07.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The firm had revenue of $169.83 million during the quarter, compared to analysts' expectations of $164.60 million. During the same period in the previous year, the business earned $0.64 earnings per share. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.13 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.93%. Perdoceo Education's payout ratio is presently 26.13%.

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.