Jennison Associates LLC Invests $717,000 in Perdoceo Education Co. (NASDAQ:PRDO)

Jennison Associates LLC purchased a new position in shares of Perdoceo Education Co. (NASDAQ:PRDO) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 40,849 shares of the company’s stock, valued at approximately $717,000. Jennison Associates LLC owned approximately 0.06% of Perdoceo Education as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Planned Solutions Inc. purchased a new stake in shares of Perdoceo Education during the fourth quarter worth approximately $26,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Perdoceo Education during the fourth quarter worth approximately $26,000. Bfsg LLC purchased a new stake in shares of Perdoceo Education during the third quarter worth approximately $193,000. Commons Capital LLC purchased a new stake in shares of Perdoceo Education during the fourth quarter worth approximately $193,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Perdoceo Education during the third quarter worth approximately $208,000. 93.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Perdoceo Education

In other news, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.70, for a total transaction of $283,200.00. Following the completion of the transaction, the chief executive officer now directly owns 617,367 shares in the company, valued at approximately $10,927,395.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Todd S. Nelson sold 9,500 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $18.50, for a total transaction of $175,750.00. Following the completion of the transaction, the chief executive officer now directly owns 685,098 shares in the company, valued at approximately $12,674,313. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Todd S. Nelson sold 16,000 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $17.70, for a total value of $283,200.00. Following the transaction, the chief executive officer now owns 617,367 shares of the company’s stock, valued at $10,927,395.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,500 shares of company stock worth $1,597,350. 1.81% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRDO. StockNews.com cut Perdoceo Education from a “strong-buy” rating to a “buy” rating in a report on Thursday. Barrington Research restated an “outperform” rating and issued a $23.00 target price on shares of Perdoceo Education in a report on Monday, April 15th.

Perdoceo Education Stock Up 1.3 %

Shares of NASDAQ:PRDO opened at $18.86 on Friday. The business has a fifty day moving average of $17.55 and a two-hundred day moving average of $17.64. The stock has a market cap of $1.24 billion, a P/E ratio of 8.65, a PEG ratio of 0.59 and a beta of 0.96. Perdoceo Education Co. has a 52-week low of $11.50 and a 52-week high of $19.62.

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

Perdoceo Education Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Thursday, February 29th. Perdoceo Education’s dividend payout ratio is presently 20.18%.

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.