Handelsbanken Fonder AB Reduces Position in Perdoceo Education Co. (NASDAQ:PRDO)

Handelsbanken Fonder AB trimmed its position in Perdoceo Education Co. (NASDAQ:PRDO) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,300 shares of the company’s stock after selling 1,000 shares during the quarter. Handelsbanken Fonder AB’s holdings in Perdoceo Education were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stratos Wealth Advisors LLC bought a new position in shares of Perdoceo Education during the fourth quarter valued at approximately $1,126,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Perdoceo Education in the 3rd quarter worth about $674,000. LSV Asset Management boosted its stake in shares of Perdoceo Education by 11.2% during the 3rd quarter. LSV Asset Management now owns 557,559 shares of the company’s stock valued at $9,534,000 after purchasing an additional 56,300 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Perdoceo Education by 6.0% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 23,750 shares of the company’s stock valued at $406,000 after purchasing an additional 1,342 shares in the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of Perdoceo Education during the third quarter valued at about $1,054,000. 93.46% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PRDO shares. StockNews.com lowered Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th. Barrington Research boosted their target price on shares of Perdoceo Education from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday.

Perdoceo Education Stock Performance

NASDAQ:PRDO opened at $24.34 on Friday. The firm has a market capitalization of $1.60 billion, a PE ratio of 10.72, a P/E/G ratio of 0.58 and a beta of 0.93. The stock has a 50-day simple moving average of $17.77 and a two-hundred day simple moving average of $17.70. Perdoceo Education Co. has a 52-week low of $11.50 and a 52-week high of $24.66.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.07. The business had revenue of $168.30 million during the quarter, compared to the consensus estimate of $163.30 million. Perdoceo Education had a net margin of 22.35% and a return on equity of 17.33%. The firm’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.58 earnings per share. Equities analysts forecast that Perdoceo Education Co. will post 2.12 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 15th. Shareholders of record on Saturday, June 1st will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Friday, May 31st. Perdoceo Education’s dividend payout ratio (DPR) is presently 19.38%.

Insiders Place Their Bets

In other news, CFO Ashish R. Ghia sold 11,412 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the transaction, the chief financial officer now directly owns 226,234 shares in the company, valued at $4,298,446. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $17.65, for a total transaction of $282,400.00. Following the completion of the sale, the chief executive officer now owns 681,367 shares of the company’s stock, valued at $12,026,127.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ashish R. Ghia sold 11,412 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $19.00, for a total value of $216,828.00. Following the completion of the sale, the chief financial officer now owns 226,234 shares of the company’s stock, valued at approximately $4,298,446. The disclosure for this sale can be found here. Insiders have sold a total of 75,412 shares of company stock worth $1,342,428 over the last quarter. Company insiders own 1.81% of the company’s stock.

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.