State Street Corp Sells 54,700 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

State Street Corp decreased its position in Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 2.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,450,468 shares of the company's stock after selling 54,700 shares during the quarter. State Street Corp owned about 3.73% of Perdoceo Education worth $54,498,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PRDO. Victory Capital Management Inc. boosted its stake in shares of Perdoceo Education by 71.3% during the 3rd quarter. Victory Capital Management Inc. now owns 73,819 shares of the company's stock worth $1,642,000 after acquiring an additional 30,725 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Perdoceo Education by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company's stock valued at $96,512,000 after purchasing an additional 107,918 shares during the period. Quest Partners LLC increased its stake in Perdoceo Education by 1,107.5% in 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 in the last quarter. LSV Asset Management raised its holdings in Perdoceo Education by 3.9% during the 2nd quarter. LSV Asset Management now owns 2,010,254 shares of the company's stock worth $43,060,000 after buying an additional 75,293 shares during the period. Finally, Millennium Management LLC lifted its stake in Perdoceo Education by 944.8% during the second quarter. Millennium Management LLC now owns 246,659 shares of the company's stock valued at $5,283,000 after buying an additional 223,050 shares in the last quarter. Institutional investors own 93.46% of the company's stock.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

Perdoceo Education Stock Up 1.7 %

Shares of PRDO traded up $0.45 during trading hours on Thursday, reaching $26.70. The company's stock had a trading volume of 500,446 shares, compared to its average volume of 460,093. The company has a 50 day moving average of $24.81 and a two-hundred day moving average of $23.07. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 0.81 and a beta of 1.07. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $29.47.

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

Perdoceo Education Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Monday, December 2nd. Perdoceo Education's dividend payout ratio is presently 26.13%.

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.