Perdoceo Education (NASDAQ:PRDO) Stock Rating Lowered by StockNews.com

Perdoceo Education (NASDAQ:PRDO) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Friday.

Separately, Barrington Research increased their price target on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th.

Perdoceo Education Trading Up 1.9 %

Shares of NASDAQ PRDO opened at $27.33 on Friday. Perdoceo Education has a twelve month low of $16.12 and a twelve month high of $29.47. The firm has a 50-day moving average of $22.79 and a two-hundred day moving average of $22.57. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.79 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $169.83 million during 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 business’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 earnings per share. As a group, research analysts predict that Perdoceo Education will post 2.27 earnings per share for the current year.

Insider Buying and Selling

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the transaction, the insider now owns 61,952 shares in the company, valued at $1,300,992. The trade was a 9.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 3,400 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the sale, the director now directly owns 69,635 shares of the company’s stock, valued at $1,862,039.90. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,450 shares of company stock worth $1,036,206. 1.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Perdoceo Education

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Perdoceo Education by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock valued at $103,538,000 after acquiring an additional 45,259 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of Perdoceo Education during the 2nd quarter valued at $2,570,000. SG Americas Securities LLC acquired a new stake in shares of Perdoceo Education in the 2nd quarter valued at $954,000. Boston Partners boosted its holdings in Perdoceo Education by 979.2% in the first quarter. Boston Partners now owns 750,979 shares of the company’s stock worth $13,376,000 after purchasing an additional 681,391 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Perdoceo Education by 2.5% during the second quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock worth $96,512,000 after buying an additional 107,918 shares during the last quarter. Institutional investors own 93.46% of the company’s stock.

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.