Perdoceo Education Co. (NASDAQ:PRDO) Stock Position Lessened by Truist Financial Corp

Truist Financial Corp reduced its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 8.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,871 shares of the company’s stock after selling 2,900 shares during the quarter. Truist Financial Corp’s holdings in Perdoceo Education were worth $640,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Perdoceo Education by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock worth $103,538,000 after purchasing an additional 45,259 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Perdoceo Education by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,069,173 shares of the company’s stock valued at $108,580,000 after acquiring an additional 28,909 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Perdoceo Education by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock worth $96,512,000 after acquiring an additional 107,918 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Perdoceo Education by 24.3% in the 2nd quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company’s stock worth $56,766,000 after acquiring an additional 518,048 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Perdoceo Education by 3.9% during the second quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock worth $43,060,000 after purchasing an additional 75,293 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

Perdoceo Education Trading Down 0.5 %

Shares of PRDO stock opened at $21.30 on Wednesday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 9.38, a P/E/G ratio of 0.65 and a beta of 1.04. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $26.40. The stock’s fifty day simple moving average is $22.00 and its 200-day simple moving average is $21.61.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $166.74 million for the quarter, compared to analysts’ expectations of $160.91 million. Perdoceo Education had a return on equity of 16.42% and a net margin of 20.57%. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, sell-side analysts predict that Perdoceo Education Co. will post 2.19 EPS for the current year.

Perdoceo Education Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Sunday, September 1st were paid a dividend of $0.13 per share. The ex-dividend date was Friday, August 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.44%. This is a positive change from Perdoceo Education’s previous quarterly dividend of $0.11. Perdoceo Education’s dividend payout ratio (DPR) is 22.91%.

Analysts Set New Price Targets

Separately, Barrington Research reissued an “outperform” rating and issued a $30.00 target price on shares of Perdoceo Education in a research report on Friday, September 20th.

Insider Activity

In related news, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Perdoceo Education news, Director William Dean Hansen sold 13,185 shares of the business’s stock in a transaction dated 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 $897,758.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,325 shares of company stock worth $1,044,656 in the last ninety days. Corporate 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.