Perdoceo Education Co. (NASDAQ:PRDO) Stock Holdings Lifted by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 23.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,170 shares of the company’s stock after acquiring an additional 10,231 shares during the quarter. Jennison Associates LLC owned 0.08% of Perdoceo Education worth $1,183,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PRDO. Vanguard Group Inc. increased its stake in Perdoceo Education by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,896,257 shares of the company’s stock worth $103,538,000 after purchasing an additional 45,259 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Perdoceo Education by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 5,069,173 shares of the company’s stock valued at $108,580,000 after acquiring an additional 28,909 shares during the period. Renaissance Technologies LLC lifted its position in shares of Perdoceo Education by 2.5% in 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. Pacer Advisors Inc. boosted its stake in Perdoceo Education by 24.3% in 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 period. Finally, LSV Asset Management grew its position in Perdoceo Education by 3.9% during the 2nd quarter. LSV Asset Management now owns 2,010,254 shares of the company’s stock worth $43,060,000 after purchasing an additional 75,293 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors and hedge funds.

Perdoceo Education Stock Performance

Perdoceo Education stock opened at $27.33 on Friday. Perdoceo Education Co. has a twelve month low of $16.12 and a twelve month high of $29.47. The firm has a market cap of $1.80 billion, a PE ratio of 13.73, a P/E/G ratio of 0.79 and a beta of 1.04. The firm’s 50 day moving average price is $22.79 and its two-hundred day moving average price is $22.57.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.58%. The business had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. During the same period in the prior year, the business posted $0.64 earnings per share. Perdoceo Education’s revenue for the quarter was down 5.6% compared to the same quarter last year. Equities analysts anticipate that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.90%. Perdoceo Education’s dividend payout ratio is currently 26.13%.

Insider Activity at Perdoceo Education

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the transaction, the insider now directly owns 61,952 shares of the company’s stock, valued at $1,300,992. This represents a 9.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 3,400 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $26.74, for a total value of $90,916.00. Following the completion of the sale, the director now directly owns 69,635 shares of the company’s stock, valued at $1,862,039.90. This represents a 4.66 % 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 valued at $1,036,206. 1.81% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PRDO. StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Friday. Barrington Research increased their price objective on Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th.

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.