Perdoceo Education (NASDAQ:PRDO) Rating Increased to Strong-Buy at StockNews.com

Perdoceo Education (NASDAQ:PRDO) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Sunday.

Separately, Barrington Research lifted their price target 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.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $26.88 on Friday. Perdoceo Education has a 52-week low of $16.12 and a 52-week high of $29.47. The stock has a market cap of $1.77 billion, a PE ratio of 13.51, a PEG ratio of 0.80 and a beta of 1.07. The firm’s 50 day moving average price is $23.87 and its two-hundred day moving average price is $22.84.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. The firm had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.64 earnings per share. As a group, sell-side analysts predict that Perdoceo Education will post 2.27 earnings per share for the current fiscal year.

Insider Activity at Perdoceo Education

In related news, SVP John Robert Kline sold 30,574 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $26.47, for a total value of $809,293.78. Following the sale, the senior vice president now directly owns 130,405 shares of the company’s stock, valued at approximately $3,451,820.35. The trade was a 18.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were 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 directly owns 61,952 shares in the company, valued at $1,300,992. This represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,450 shares of company stock valued at $1,036,206. 1.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Perdoceo Education

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP increased its stake in shares of Perdoceo Education by 1,306.3% during the 2nd quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after purchasing an additional 1,254 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Perdoceo Education by 38.7% during the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after purchasing an additional 492 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth about $39,000. Fifth Third Bancorp increased its stake in shares of Perdoceo Education by 650.6% during the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth about $74,000. 93.46% of the stock is currently owned by institutional investors and hedge funds.

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.