Bank of New York Mellon Corp Cuts Position in Perdoceo Education Co. (NASDAQ:PRDO)

Bank of New York Mellon Corp decreased its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 0.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 684,948 shares of the company’s stock after selling 4,166 shares during the period. Bank of New York Mellon Corp owned approximately 1.04% of Perdoceo Education worth $18,131,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PRDO. Wellington Management Group LLP acquired a new position in shares of Perdoceo Education during the third quarter worth $9,374,000. Barclays PLC increased its stake in Perdoceo Education by 353.5% during the third quarter. Barclays PLC now owns 110,622 shares of the company’s stock valued at $2,460,000 after purchasing an additional 86,227 shares during the last quarter. Rothschild Investment LLC increased its stake in Perdoceo Education by 360.8% during the fourth quarter. Rothschild Investment LLC now owns 85,250 shares of the company’s stock valued at $2,257,000 after purchasing an additional 66,751 shares during the last quarter. Weiss Asset Management LP bought a new stake in Perdoceo Education during the third quarter valued at $1,043,000. Finally, Manning & Napier Advisors LLC increased its stake in Perdoceo Education by 32.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 162,797 shares of the company’s stock valued at $4,309,000 after purchasing an additional 39,808 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insiders Place Their Bets

In other Perdoceo Education news, CEO Todd S. Nelson sold 12,472 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total transaction of $327,888.88. Following the completion of the sale, the chief executive officer now owns 615,697 shares of the company’s stock, valued at $16,186,674.13. This represents a 1.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Robert Kline sold 12,148 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $25.79, for a total value of $313,296.92. Following the completion of the sale, the senior vice president now directly owns 130,405 shares of the company’s stock, valued at $3,363,144.95. This represents a 8.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

Perdoceo Education Price Performance

Shares of PRDO opened at $25.17 on Wednesday. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.44, a P/E/G ratio of 0.75 and a beta of 1.04. Perdoceo Education Co. has a fifty-two week low of $16.56 and a fifty-two week high of $29.84. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.84 and a quick ratio of 5.45. The business’s 50-day moving average is $27.10 and its 200-day moving average is $25.03.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. The firm had revenue of $176.43 million for the quarter, compared to the consensus estimate of $160.12 million. Equities research analysts expect that Perdoceo Education Co. will post 2.41 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Saturday, March 1st will be given a dividend of $0.13 per share. The ex-dividend date is Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. Perdoceo Education’s payout ratio is currently 23.64%.

Analysts Set New Price Targets

PRDO has been the subject of several recent research reports. Barrington Research upped their price target on shares of Perdoceo Education from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th.

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.