Manning & Napier Advisors LLC Buys 39,808 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Manning & Napier Advisors LLC grew its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 32.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 162,797 shares of the company's stock after acquiring an additional 39,808 shares during the quarter. Manning & Napier Advisors LLC owned about 0.25% of Perdoceo Education worth $4,309,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Wellington Management Group LLP acquired a new stake in Perdoceo Education in the third quarter worth about $9,374,000. Millennium Management LLC raised its position in shares of Perdoceo Education by 944.8% during the 2nd quarter. Millennium Management LLC now owns 246,659 shares of the company's stock worth $5,283,000 after buying an additional 223,050 shares in the last quarter. Barclays PLC lifted its stake in shares of Perdoceo Education by 353.5% in the 3rd quarter. Barclays PLC now owns 110,622 shares of the company's stock worth $2,460,000 after acquiring an additional 86,227 shares during the period. Sanctuary Advisors LLC bought a new position in shares of Perdoceo Education in the second quarter valued at approximately $1,836,000. Finally, Squarepoint Ops LLC increased its stake in shares of Perdoceo Education by 296.7% during the second quarter. Squarepoint Ops LLC now owns 96,261 shares of the company's stock valued at $2,062,000 after acquiring an additional 71,995 shares during the period. Institutional investors own 93.46% of the company's stock.

Perdoceo Education Trading Up 1.6 %

PRDO stock traded up $0.44 on Thursday, hitting $28.62. 83,177 shares of the company's stock traded hands, compared to its average volume of 376,553. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 0.79 and a beta of 1.06. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $29.47. The stock has a fifty day moving average of $27.06 and a 200-day moving average of $24.25.

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

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Monday, December 2nd. Perdoceo Education's dividend payout ratio (DPR) is currently 26.13%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barrington Research increased their price target on Perdoceo Education from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th. StockNews.com raised Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research note on Wednesday.

Insider Activity at Perdoceo Education

In related news, CEO Todd S. Nelson sold 12,472 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total value of $327,888.88. Following the transaction, the chief executive officer now owns 615,697 shares in the company, valued at approximately $16,186,674.13. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John Robert Kline sold 12,148 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $25.79, for a total transaction of $313,296.92. Following the transaction, the senior vice president now directly owns 130,405 shares of the company's stock, valued at approximately $3,363,144.95. This represents a 8.52 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,594 shares of company stock valued at $1,541,396. Company insiders own 1.81% of the company's stock.

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.