JPMorgan Chase & Co. Increases Stock Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

JPMorgan Chase & Co. increased its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 3.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 582,180 shares of the company’s stock after acquiring an additional 16,720 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.89% of Perdoceo Education worth $12,948,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in Perdoceo Education by 24.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company’s stock worth $56,766,000 after purchasing an additional 518,048 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Perdoceo Education in the third quarter worth about $9,374,000. Millennium Management LLC boosted its position in Perdoceo Education by 944.8% during the second quarter. Millennium Management LLC now owns 246,659 shares of the company’s stock worth $5,283,000 after acquiring an additional 223,050 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Perdoceo Education during the 2nd quarter valued at about $2,519,000. Finally, Renaissance Technologies LLC grew its stake in Perdoceo Education by 2.5% during the 2nd quarter. Renaissance Technologies LLC now owns 4,505,687 shares of the company’s stock valued at $96,512,000 after acquiring an additional 107,918 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com raised shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 8th. Barrington Research lifted their price objective on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th.

Insider Buying and Selling at Perdoceo Education

In related news, CEO Todd S. Nelson sold 12,472 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $26.29, for a total transaction of $327,888.88. Following the sale, the chief executive officer now directly owns 615,697 shares in the company, valued at approximately $16,186,674.13. This represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $26.47, for a total transaction of $809,293.78. Following the completion of the sale, the senior vice president now directly owns 130,405 shares in the company, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,594 shares of company stock valued at $1,541,396 over the last quarter. 1.81% of the stock is owned by company insiders.

Perdoceo Education Price Performance

NASDAQ:PRDO opened at $25.87 on Friday. The company’s 50-day moving average is $26.46 and its two-hundred day moving average is $23.67. Perdoceo Education Co. has a 1-year low of $16.12 and a 1-year high of $29.47. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.00, a PEG ratio of 0.81 and a beta of 1.06.

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. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The firm had revenue of $169.83 million for the quarter, compared to analysts’ expectations of $164.60 million. During the same period in the prior year, the firm posted $0.64 earnings per share. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Perdoceo Education Co. will post 2.27 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, December 2nd were issued a $0.13 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.52 annualized dividend and a yield of 2.01%. Perdoceo Education’s dividend payout ratio (DPR) is currently 26.13%.

Perdoceo Education Company 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.