Perdoceo Education Co. (NASDAQ:PRDO) Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,803,391 shares of the company's stock after purchasing an additional 33,092 shares during the period. Geode Capital Management LLC owned approximately 2.75% of Perdoceo Education worth $40,114,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PRDO. Quarry LP grew its stake in shares of Perdoceo Education by 1,306.3% in the second quarter. Quarry LP now owns 1,350 shares of the company's stock valued at $29,000 after buying an additional 1,254 shares in the last quarter. Blue Trust Inc. grew its position in Perdoceo Education by 38.7% in the third quarter. Blue Trust Inc. now owns 1,762 shares of the company's stock valued at $38,000 after acquiring an additional 492 shares in the last quarter. Quest Partners LLC acquired a new stake in Perdoceo Education in the second quarter valued at approximately $39,000. Fifth Third Bancorp raised its stake in shares of Perdoceo Education by 650.6% during the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company's stock valued at $40,000 after purchasing an additional 1,633 shares during the period. Finally, Innealta Capital LLC acquired a new position in shares of Perdoceo Education during the second quarter worth $74,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

Perdoceo Education Stock Up 1.8 %

Shares of Perdoceo Education stock traded up $0.47 on Wednesday, hitting $26.59. 175,780 shares of the company's stock traded hands, compared to its average volume of 466,623. The firm's 50-day moving average is $25.23 and its 200 day moving average is $23.20. The stock has a market cap of $1.75 billion, a P/E ratio of 13.36, a PEG ratio of 0.81 and a beta of 1.07. Perdoceo Education Co. has a 52-week low of $16.12 and a 52-week high of $29.47.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The company had revenue of $169.83 million during the quarter, compared to analyst estimates of $164.60 million. During the same period last year, the business earned $0.64 EPS. The firm's revenue for the quarter was down 5.6% compared to the same quarter last year. Equities research analysts forecast that Perdoceo Education Co. will post 2.27 EPS for the current year.

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Monday, December 2nd were given a $0.13 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.52 annualized dividend and a dividend yield of 1.96%. Perdoceo Education's payout ratio is 26.13%.

Insider Activity

In other Perdoceo Education news, SVP John Robert Kline sold 30,574 shares of Perdoceo Education stock in a transaction on Friday, November 15th. The shares were sold at an average price of $26.47, for a total value of $809,293.78. Following the completion of the transaction, the senior vice president now owns 130,405 shares of the company's stock, valued at $3,451,820.35. The trade was a 18.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Patrick W. Gross sold 3,400 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.74, for a total transaction of $90,916.00. Following the sale, the director now directly owns 69,635 shares in the company, valued at $1,862,039.90. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research note on Sunday, December 8th. Barrington Research lifted their target price on Perdoceo Education from $30.00 to $32.00 and gave the stock an "outperform" rating in a research report on Wednesday, November 13th.

Perdoceo Education 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.