Pacer Advisors Inc. Purchases 518,048 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Pacer Advisors Inc. grew its holdings in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 24.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,650,123 shares of the company’s stock after purchasing an additional 518,048 shares during the quarter. Pacer Advisors Inc. owned about 4.04% of Perdoceo Education worth $56,766,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of PRDO. Quest Partners LLC purchased a new position in Perdoceo Education in the 2nd quarter valued at approximately $39,000. Fifth Third Bancorp grew its position 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 valued at $40,000 after purchasing an additional 1,633 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Perdoceo Education during the 2nd quarter valued at $74,000. nVerses Capital LLC bought a new stake in shares of Perdoceo Education during the 2nd quarter valued at $92,000. Finally, Banque Cantonale Vaudoise lifted its holdings in Perdoceo Education by 9.9% during the 1st quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock worth $110,000 after purchasing an additional 565 shares in the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Analysts Set New Price Targets

Separately, Barrington Research reiterated an “outperform” rating and set a $30.00 price target on shares of Perdoceo Education in a research report on Friday.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, Director William Dean Hansen sold 13,185 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $23.01, for a total value of $303,386.85. Following the completion of the transaction, the director now owns 39,016 shares of the company’s stock, valued at approximately $897,758.16. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the transaction, the insider now directly owns 61,952 shares in the company, valued at approximately $1,300,992. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Dean Hansen sold 13,185 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total value of $303,386.85. Following the completion of the sale, the director now owns 39,016 shares of the company’s stock, valued at approximately $897,758.16. The disclosure for this sale can be found here. Insiders have sold 46,325 shares of company stock valued at $1,044,656 over the last three months. 1.81% of the stock is owned by corporate insiders.

Perdoceo Education Price Performance

NASDAQ PRDO opened at $22.23 on Friday. The company’s 50 day simple moving average is $22.80 and its two-hundred day simple moving average is $21.12. Perdoceo Education Co. has a 1 year low of $16.12 and a 1 year high of $26.40. The stock has a market capitalization of $1.46 billion, a PE ratio of 9.79, a P/E/G ratio of 0.65 and a beta of 1.03.

Perdoceo Education (NASDAQ:PRDO) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Perdoceo Education had a return on equity of 16.42% and a net margin of 20.57%. The company had revenue of $166.74 million for the quarter, compared to the consensus estimate of $160.91 million. During the same quarter last year, the business posted $0.61 earnings per share. The firm’s revenue was down 10.6% compared to the same quarter last year. On average, research analysts anticipate that Perdoceo Education Co. will post 2.19 EPS for the current year.

Perdoceo Education Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Sunday, September 1st were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 2.34%. This is a boost from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, August 30th. Perdoceo Education’s dividend payout ratio is 22.91%.

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.