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 research report issued to clients and investors on Saturday.

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

Perdoceo Education Stock Down 0.7 %

PRDO opened at $27.45 on Friday. Perdoceo Education has a 12-month low of $16.12 and a 12-month high of $29.47. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.81 and a beta of 1.04. The business has a 50 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 earnings per share (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 company had revenue of $169.83 million during the quarter, compared to analysts’ expectations of $164.60 million. During the same period last year, the firm posted $0.64 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. As a group, analysts expect that Perdoceo Education will post 2.27 earnings per share for the current year.

Insider Transactions at Perdoceo Education

In other news, SVP John Robert Kline sold 30,574 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $26.47, for a total transaction of $809,293.78. Following the transaction, the senior vice president now owns 130,405 shares in the company, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the transaction, the insider now owns 61,952 shares in the company, valued at approximately $1,300,992. This trade represents a 9.46 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,450 shares of company stock worth $1,036,206. Company insiders own 1.81% of the company’s stock.

Hedge Funds Weigh In On Perdoceo Education

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Perdoceo Education by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock worth $103,538,000 after acquiring an additional 45,259 shares during the period. Manning & Napier Advisors LLC bought a new position in Perdoceo Education during the 2nd quarter worth $2,570,000. SG Americas Securities LLC bought a new position in Perdoceo Education during the 2nd quarter worth $954,000. Boston Partners increased its stake in Perdoceo Education by 979.2% during the 1st quarter. Boston Partners now owns 750,979 shares of the company’s stock worth $13,376,000 after acquiring an additional 681,391 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Perdoceo Education by 71.3% during the 3rd quarter. Victory Capital Management Inc. now owns 73,819 shares of the company’s stock worth $1,642,000 after acquiring an additional 30,725 shares during the period. Institutional investors own 93.46% of the company’s stock.

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.