Perdoceo Education Co. (NASDAQ:PRDO) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lowered its stake in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 77.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,476 shares of the company's stock after selling 103,272 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Perdoceo Education were worth $678,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PRDO. Quarry LP increased its position in shares of Perdoceo Education by 1,306.3% during the 2nd quarter. Quarry LP now owns 1,350 shares of the company's stock valued at $29,000 after purchasing an additional 1,254 shares during the last quarter. Blue Trust Inc. increased its position in shares of Perdoceo Education by 38.7% during the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company's stock valued at $38,000 after purchasing an additional 492 shares during the last quarter. Quest Partners LLC bought a new stake in Perdoceo Education in the second quarter worth about $39,000. Fifth Third Bancorp grew its holdings in shares of Perdoceo Education by 650.6% in the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company's stock worth $40,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of Perdoceo Education during the second quarter valued at $74,000. 93.46% of the stock is currently owned by institutional investors.

Perdoceo Education Trading Down 0.7 %

NASDAQ:PRDO traded down $0.18 during midday trading on Friday, hitting $27.45. 188,116 shares of the company were exchanged, compared to its average volume of 463,670. Perdoceo Education Co. has a fifty-two week low of $16.12 and a fifty-two week high of $29.47. The company has a market capitalization of $1.80 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 0.81 and a beta of 1.04. The company has a fifty day simple moving average of $23.23 and a 200 day simple moving average of $22.69.

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

Perdoceo Education Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date is Monday, December 2nd. Perdoceo Education's dividend payout ratio is currently 26.13%.

Analysts Set New Price Targets

PRDO has been the subject of a number of research analyst reports. StockNews.com cut shares of Perdoceo Education from a "strong-buy" rating to a "buy" rating in a report on Friday, November 22nd. Barrington Research increased their price target on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Wednesday, November 13th.

Insider Buying and Selling

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the transaction, the insider now owns 61,952 shares in the company, valued at $1,300,992. This represents a 9.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Robert Kline sold 30,574 shares of the firm's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $26.47, for a total transaction of $809,293.78. Following the sale, the senior vice president now directly owns 130,405 shares of the company's stock, valued at approximately $3,451,820.35. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,450 shares of company stock worth $1,036,206 in the last three months. Corporate insiders own 1.81% of the company's stock.

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.