Perdoceo Education (NASDAQ:PRDO) Rating Lowered 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 research report issued to clients and investors on Thursday.

Separately, Barrington Research reiterated an “outperform” rating and set a $23.00 price target on shares of Perdoceo Education in a report on Monday, April 15th.

Perdoceo Education Stock Up 1.1 %

Shares of PRDO stock traded up $0.20 during trading hours on Thursday, hitting $18.62. 713,968 shares of the company’s stock were exchanged, compared to its average volume of 508,275. The firm has a 50 day moving average of $17.53 and a two-hundred day moving average of $17.63. Perdoceo Education has a fifty-two week low of $11.50 and a fifty-two week high of $19.62. The firm has a market cap of $1.22 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.56 and a beta of 0.96.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Wednesday, February 21st. The company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.04. Perdoceo Education had a return on equity of 17.63% and a net margin of 20.80%. The business had revenue of $147.30 million for the quarter, compared to analysts’ expectations of $146.20 million. During the same period in the previous year, the firm posted $0.31 EPS. The business’s revenue for the quarter was down 16.4% compared to the same quarter last year. On average, equities analysts forecast that Perdoceo Education will post 2.12 earnings per share for the current fiscal year.

Insider Transactions at Perdoceo Education

In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $18.50, for a total value of $296,000.00. Following the transaction, the chief executive officer now directly owns 685,098 shares in the company, valued at approximately $12,674,313. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Todd S. Nelson sold 9,500 shares of Perdoceo Education stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $18.50, for a total value of $175,750.00. Following the transaction, the chief executive officer now owns 685,098 shares of the company’s stock, valued at approximately $12,674,313. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Todd S. Nelson sold 16,000 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $18.50, for a total value of $296,000.00. Following the sale, the chief executive officer now owns 685,098 shares in the company, valued at approximately $12,674,313. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,500 shares of company stock worth $1,893,350. Company insiders own 1.81% of the company’s stock.

Institutional Investors Weigh In On Perdoceo Education

Several hedge funds have recently bought and sold shares of PRDO. Stratos Wealth Advisors LLC purchased a new stake in Perdoceo Education in the 4th quarter worth approximately $1,126,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Perdoceo Education during the third quarter worth $674,000. LSV Asset Management boosted its position in Perdoceo Education by 11.2% during the third quarter. LSV Asset Management now owns 557,559 shares of the company’s stock valued at $9,534,000 after purchasing an additional 56,300 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in Perdoceo Education by 6.0% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 23,750 shares of the company’s stock valued at $406,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Alps Advisors Inc. acquired a new position in Perdoceo Education in the 3rd quarter worth about $1,054,000. 93.46% of the stock is owned by hedge funds and other institutional investors.

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.