Martingale Asset Management L P Trims Position in Perdoceo Education Co. (NASDAQ:PRDO)

Martingale Asset Management L P cut its holdings in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 21.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 87,163 shares of the company's stock after selling 24,242 shares during the period. Martingale Asset Management L P owned 0.13% of Perdoceo Education worth $2,307,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PRDO. Wellington Management Group LLP bought a new stake in Perdoceo Education in the third quarter worth approximately $9,374,000. Geode Capital Management LLC boosted its stake in Perdoceo Education by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company's stock valued at $40,114,000 after purchasing an additional 33,092 shares during the period. Barclays PLC raised its stake in Perdoceo Education by 353.5% during the third quarter. Barclays PLC now owns 110,622 shares of the company's stock worth $2,460,000 after acquiring an additional 86,227 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Perdoceo Education by 9.6% in the third quarter. Franklin Resources Inc. now owns 278,091 shares of the company's stock valued at $5,954,000 after buying an additional 24,434 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Perdoceo Education by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 582,180 shares of the company's stock worth $12,948,000 after buying an additional 16,720 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Perdoceo Education

In related news, SVP Elise Baskel sold 17,818 shares of the business'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 transaction of $430,482.88. Following the transaction, the senior vice president now directly owns 93,354 shares of the company's stock, valued at approximately $2,255,432.64. The trade was a 16.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ashish R. Ghia sold 35,677 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $25.83, for a total transaction of $921,536.91. Following the transaction, the chief financial officer now owns 204,477 shares of the company's stock, valued at approximately $5,281,640.91. This represents a 14.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,691 shares of company stock worth $2,774,669. Company insiders own 1.81% of the company's stock.

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Perdoceo Education Stock Performance

Shares of PRDO stock traded up $0.10 during trading hours on Wednesday, reaching $26.03. 90,729 shares of the company traded hands, compared to its average volume of 478,806. 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 Co. has a 12-month low of $16.56 and a 12-month high of $29.84. The company has a market cap of $1.72 billion, a P/E ratio of 11.83, a P/E/G ratio of 0.75 and a beta of 0.87. The firm has a 50-day moving average price of $25.94 and a 200 day moving average price of $25.61.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Perdoceo Education had a net margin of 21.66% and a return on equity of 16.85%. The firm had revenue of $176.43 million for the quarter, compared to the consensus estimate of $160.12 million. As a group, sell-side analysts predict that Perdoceo Education Co. will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Saturday, March 1st were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, February 28th. Perdoceo Education's dividend payout ratio is currently 23.64%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PRDO shares. Barrington Research upped their target price on shares of Perdoceo Education from $32.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 19th. StockNews.com upgraded shares of Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 11th.

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.