Perdoceo Education (NASDAQ:PRDO) Hits New 1-Year High Following Better-Than-Expected Earnings

Perdoceo Education Co. (NASDAQ:PRDO - Get Free Report) shares reached a new 52-week high during trading on Wednesday after the company announced better than expected quarterly earnings. The company traded as high as $29.84 and last traded at $28.37, with a volume of 53898 shares. The stock had previously closed at $28.81.

The company reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.02. The company had revenue of $176.43 million for the quarter, compared to analyst estimates of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%.

Perdoceo Education Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Saturday, March 1st will be given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, February 28th. Perdoceo Education's dividend payout ratio (DPR) is presently 23.64%.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Todd S. Nelson sold 12,472 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $26.29, for a total value of $327,888.88. Following the completion of the transaction, the chief executive officer now owns 615,697 shares of the company's stock, valued at approximately $16,186,674.13. This trade represents a 1.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John Robert Kline sold 12,148 shares of the firm's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $25.79, for a total transaction of $313,296.92. Following the completion of the sale, the senior vice president now directly owns 130,405 shares of the company's stock, valued at approximately $3,363,144.95. The trade was a 8.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.81% of the company's stock.

Hedge Funds Weigh In On Perdoceo Education

Several institutional investors and hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Perdoceo Education by 71.3% during the third quarter. Victory Capital Management Inc. now owns 73,819 shares of the company's stock valued at $1,642,000 after purchasing an additional 30,725 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Perdoceo Education during the 3rd quarter worth approximately $9,374,000. Geode Capital Management LLC boosted its position in shares of Perdoceo Education by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company's stock worth $40,114,000 after purchasing an additional 33,092 shares during the period. Quest Partners LLC boosted its position in shares of Perdoceo Education by 1,107.5% during the 3rd quarter. Quest Partners LLC now owns 22,012 shares of the company's stock worth $490,000 after purchasing an additional 20,189 shares during the period. Finally, Barclays PLC boosted its position in Perdoceo Education by 353.5% in the 3rd quarter. Barclays PLC now owns 110,622 shares of the company's stock valued at $2,460,000 after buying an additional 86,227 shares during the period. 93.46% of the stock is owned by hedge funds and other institutional investors.

Perdoceo Education Price Performance

The stock's fifty day moving average price is $27.39 and its two-hundred day moving average price is $24.74. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 0.75 and a beta of 1.07. The company has a current ratio of 4.84, a quick ratio of 5.45 and a debt-to-equity ratio of 0.01.

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.