Perdoceo Education (NASDAQ:PRDO) Cut to Buy at StockNews.com

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

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

Perdoceo Education Stock Down 0.7 %

PRDO stock opened at $27.45 on Friday. The company has a market cap of $1.80 billion, a P/E ratio of 13.79, a PEG ratio of 0.81 and a beta of 1.04. Perdoceo Education has a twelve month low of $16.12 and a twelve month high of $29.47. The business has a fifty day moving average of $23.34 and a 200-day moving average of $22.71.

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

Insiders Place Their Bets

In other news, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John Robert Kline sold 30,574 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $26.47, for a total value of $809,293.78. Following the transaction, the senior vice president now directly owns 130,405 shares of the company’s stock, valued at $3,451,820.35. This represents a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,450 shares of company stock worth $1,036,206 over the last ninety days. 1.81% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Quarry LP boosted its position in shares of Perdoceo Education by 1,306.3% during the second quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after buying an additional 1,254 shares during the period. Blue Trust Inc. boosted its position in shares of Perdoceo Education by 38.7% during the third quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after buying an additional 492 shares during the period. Quest Partners LLC acquired a new position in shares of Perdoceo Education during the second quarter worth about $39,000. Fifth Third Bancorp boosted its position in shares of Perdoceo Education by 650.6% during the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock worth $40,000 after buying an additional 1,633 shares during the period. Finally, Innealta Capital LLC acquired a new position in Perdoceo Education during the second quarter valued at approximately $74,000. 93.46% of the stock is 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.