Bank of New York Mellon Corp Has $18.13 Million Stock Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Bank of New York Mellon Corp cut its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 684,948 shares of the company’s stock after selling 4,166 shares during the quarter. Bank of New York Mellon Corp’s holdings in Perdoceo Education were worth $18,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rothschild Investment LLC increased its stake in shares of Perdoceo Education by 360.8% in the fourth quarter. Rothschild Investment LLC now owns 85,250 shares of the company’s stock valued at $2,257,000 after buying an additional 66,751 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Perdoceo Education in the fourth quarter worth about $358,000. New York State Common Retirement Fund increased its position in Perdoceo Education by 23.8% in the fourth quarter. New York State Common Retirement Fund now owns 84,217 shares of the company’s stock worth $2,229,000 after purchasing an additional 16,200 shares during the period. Sanctuary Advisors LLC increased its position in Perdoceo Education by 18.5% in the fourth quarter. Sanctuary Advisors LLC now owns 43,991 shares of the company’s stock worth $1,260,000 after purchasing an additional 6,875 shares during the period. Finally, Principal Financial Group Inc. increased its position in Perdoceo Education by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 318,963 shares of the company’s stock worth $8,443,000 after purchasing an additional 10,680 shares during the period. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP John Robert Kline sold 12,148 shares of Perdoceo Education stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $25.79, for a total transaction of $313,296.92. Following the transaction, the senior vice president now owns 130,405 shares in the company, valued at $3,363,144.95. The trade was a 8.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd S. Nelson sold 12,472 shares of Perdoceo Education stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $26.29, for a total value of $327,888.88. Following the transaction, the chief executive officer now owns 615,697 shares in the company, valued at $16,186,674.13. This trade represents a 1.99 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.81% of the company’s stock.

Perdoceo Education Price Performance

Shares of PRDO opened at $25.17 on Wednesday. The company has a current ratio of 4.84, a quick ratio of 5.45 and a debt-to-equity ratio of 0.01. Perdoceo Education Co. has a 1 year low of $16.56 and a 1 year high of $29.84. The stock has a market cap of $1.66 billion, a P/E ratio of 11.44, a price-to-earnings-growth ratio of 0.75 and a beta of 1.04. The stock’s 50-day moving average price is $27.10 and its two-hundred day moving average price is $25.03.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, February 18th. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. The firm had revenue of $176.43 million for the quarter, compared to analysts’ expectations of $160.12 million. On average, equities analysts predict that Perdoceo Education Co. will post 2.41 earnings per share for the current year.

Perdoceo Education Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Saturday, March 1st will be issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, February 28th. Perdoceo Education’s dividend payout ratio (DPR) is currently 23.64%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barrington Research lifted their price objective on Perdoceo Education from $32.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 11th.

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.