Perdoceo Education (NASDAQ:PRDO) Raised to Strong-Buy at StockNews.com

Perdoceo Education (NASDAQ:PRDO) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Wednesday.

Separately, Barrington Research raised their price objective on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

Perdoceo Education Price Performance

NASDAQ:PRDO opened at $28.65 on Wednesday. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 0.79 and a beta of 1.06. The business has a 50 day simple moving average of $27.06 and a 200-day simple moving average of $24.25. Perdoceo Education has a 1 year low of $16.12 and a 1 year high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings data on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping 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 company had revenue of $169.83 million during the quarter, compared to analyst estimates of $164.60 million. During the same period in the previous year, the firm earned $0.64 earnings per share. Perdoceo Education’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, analysts expect that Perdoceo Education will post 2.27 earnings per share for the current fiscal year.

Insider Activity at Perdoceo Education

In other news, Director Patrick W. Gross sold 3,400 shares of the 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John Robert Kline sold 30,574 shares of Perdoceo Education stock in a transaction dated 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 of the company’s stock, valued at $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 sold 58,594 shares of company stock worth $1,541,396 in the last 90 days. 1.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perdoceo Education

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Perdoceo Education by 1.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company’s stock valued at $40,114,000 after acquiring an additional 33,092 shares during the period. JPMorgan Chase & Co. raised its holdings in Perdoceo Education by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 582,180 shares of the company’s stock worth $12,948,000 after purchasing an additional 16,720 shares in the last quarter. Empowered Funds LLC raised its holdings in Perdoceo Education by 1.2% in the third quarter. Empowered Funds LLC now owns 485,552 shares of the company’s stock worth $10,799,000 after purchasing an additional 5,571 shares in the last quarter. Wellington Management Group LLP purchased a new stake in shares of Perdoceo Education during the third quarter valued at about $9,374,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Perdoceo Education by 9.6% in the 3rd quarter. Franklin Resources Inc. now owns 278,091 shares of the company’s stock valued at $5,954,000 after buying an additional 24,434 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.