Victory Capital Management Inc. Cuts Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Victory Capital Management Inc. reduced its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 58.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,094 shares of the company’s stock after selling 60,386 shares during the quarter. Victory Capital Management Inc. owned about 0.07% of Perdoceo Education worth $923,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PRDO. Fifth Third Bancorp raised its position in Perdoceo Education by 650.6% in the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after acquiring an additional 1,633 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Perdoceo Education during the 2nd quarter worth $74,000. nVerses Capital LLC purchased a new position in shares of Perdoceo Education in the 2nd quarter valued at about $92,000. Banque Cantonale Vaudoise lifted its stake in shares of Perdoceo Education by 9.9% in the first quarter. Banque Cantonale Vaudoise now owns 6,269 shares of the company’s stock valued at $110,000 after purchasing an additional 565 shares during the period. Finally, Picton Mahoney Asset Management purchased a new stake in Perdoceo Education during the second quarter worth about $155,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Perdoceo Education news, Chairman Gregory L. Jackson sold 26,664 shares of Perdoceo Education stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the sale, the chairman now owns 58,644 shares in the company, valued at approximately $1,331,218.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Gregory L. Jackson sold 26,664 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $22.70, for a total value of $605,272.80. Following the completion of the sale, the chairman now directly owns 58,644 shares in the company, valued at $1,331,218.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 transaction of $135,996.00. Following the transaction, the insider now directly owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,325 shares of company stock valued at $1,044,656. Insiders own 1.81% of the company’s stock.

Analyst Upgrades and Downgrades

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

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $22.23 on Friday. The stock has a fifty day moving average price of $22.80 and a 200 day moving average price of $21.09. The stock has a market cap 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 Co. has a 1 year low of $16.12 and a 1 year high of $26.40.

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

Perdoceo Education Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Sunday, September 1st were issued a dividend of $0.13 per share. 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. This represents a $0.52 annualized dividend and a dividend yield of 2.34%. Perdoceo Education’s dividend payout ratio (DPR) is 22.91%.

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.