Perdoceo Education Co. (NASDAQ:PRDO) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,803,391 shares of the company’s stock after purchasing an additional 33,092 shares during the quarter. Geode Capital Management LLC owned about 2.75% of Perdoceo Education worth $40,114,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in shares of Perdoceo Education by 1,306.3% in the 2nd quarter. Quarry LP now owns 1,350 shares of the company’s stock worth $29,000 after acquiring an additional 1,254 shares during the last quarter. Blue Trust Inc. increased its position in 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 purchasing an additional 492 shares during the last quarter. Quest Partners LLC purchased a new position in Perdoceo Education during the second quarter worth about $39,000. Fifth Third Bancorp boosted its holdings in Perdoceo Education by 650.6% in the 2nd quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after purchasing an additional 1,633 shares during the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Perdoceo Education in the 2nd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Perdoceo Education Price Performance

Shares of PRDO opened at $26.59 on Wednesday. The firm has a 50-day simple moving average of $25.12 and a two-hundred day simple moving average of $23.17. The stock has a market cap of $1.75 billion, a PE ratio of 13.36, a P/E/G ratio of 0.81 and a beta of 1.07. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $29.47.

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

Perdoceo Education Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, December 2nd were given a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Monday, December 2nd. Perdoceo Education’s dividend payout ratio is currently 26.13%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PRDO. Barrington Research lifted their price target on shares of Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com raised Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 8th.

Insiders Place Their Bets

In other news, Director Patrick W. Gross sold 3,400 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $26.74, for a total transaction of $90,916.00. Following the sale, the director now owns 69,635 shares of the company’s stock, valued at approximately $1,862,039.90. This represents a 4.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Robert Kline sold 30,574 shares of the 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 completion of the sale, the senior vice president now owns 130,405 shares in the company, valued at approximately $3,451,820.35. The trade was a 18.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.

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.