Insider Selling: Perdoceo Education Co. (NASDAQ:PRDO) CEO Sells $961,345.44 in Stock

Perdoceo Education Co. (NASDAQ:PRDO) CEO Todd S. Nelson sold 38,984 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $24.66, for a total value of $961,345.44. Following the completion of the transaction, the chief executive officer now directly owns 644,047 shares in the company, valued at $15,882,199.02. This trade represents a 5.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Perdoceo Education Stock Up 0.2 %

Shares of NASDAQ PRDO opened at $25.25 on Thursday. The stock has a fifty day moving average price of $26.76 and a 200 day moving average price of $25.21. 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 12-month low of $16.56 and a 12-month high of $29.84. The company has a market cap of $1.66 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.75 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO) last posted its earnings results on Tuesday, February 18th. The company reported $0.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $176.43 million during the quarter, compared to analyst estimates of $160.12 million. Research analysts anticipate that Perdoceo Education Co. will post 2.41 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Saturday, March 1st were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $0.52 dividend on an annualized basis and a yield of 2.06%. Perdoceo Education’s payout ratio is currently 23.64%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRDO. First Trust Advisors LP lifted its position in Perdoceo Education by 7.9% in the 4th quarter. First Trust Advisors LP now owns 3,296,208 shares of the company’s stock valued at $87,251,000 after purchasing an additional 241,147 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Perdoceo Education by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,817,982 shares of the company’s stock valued at $48,129,000 after purchasing an additional 14,591 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in shares of Perdoceo Education during the fourth quarter valued at approximately $47,129,000. Frontier Capital Management Co. LLC boosted its position in shares of Perdoceo Education by 5.1% during the fourth quarter. Frontier Capital Management Co. LLC now owns 1,739,401 shares of the company’s stock worth $46,042,000 after buying an additional 85,100 shares during the period. Finally, American Century Companies Inc. grew its holdings in Perdoceo Education by 5.1% in the 4th quarter. American Century Companies Inc. now owns 1,627,190 shares of the company’s stock worth $43,072,000 after buying an additional 79,686 shares in the last quarter. 93.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PRDO has been the topic of a number of research reports. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 11th. Barrington Research boosted their price objective on shares of Perdoceo Education from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th.

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.