Martingale Asset Management L P Sells 27,910 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Martingale Asset Management L P lessened its holdings in Perdoceo Education Co. (NASDAQ:PRDO) by 20.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 111,405 shares of the company’s stock after selling 27,910 shares during the period. Martingale Asset Management L P owned about 0.17% of Perdoceo Education worth $2,478,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Intech Investment Management LLC increased its holdings in Perdoceo Education by 220.8% during the third quarter. Intech Investment Management LLC now owns 56,839 shares of the company’s stock valued at $1,264,000 after buying an additional 39,121 shares during the last quarter. Jennison Associates LLC increased its stake in shares of Perdoceo Education by 23.8% in the 3rd quarter. Jennison Associates LLC now owns 53,170 shares of the company’s stock worth $1,183,000 after purchasing an additional 10,231 shares in the last quarter. Banque Cantonale Vaudoise raised its holdings in Perdoceo Education by 59.7% in the 3rd quarter. Banque Cantonale Vaudoise now owns 10,606 shares of the company’s stock worth $236,000 after purchasing an additional 3,966 shares during the period. Quest Partners LLC lifted its position in Perdoceo Education by 1,107.5% during the third quarter. Quest Partners LLC now owns 22,012 shares of the company’s stock valued at $490,000 after purchasing an additional 20,189 shares in the last quarter. Finally, Empowered Funds LLC grew its holdings in Perdoceo Education by 1.2% during the third quarter. Empowered Funds LLC now owns 485,552 shares of the company’s stock valued at $10,799,000 after purchasing an additional 5,571 shares during the period. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insiders Place Their Bets

In other Perdoceo Education news, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $26.47, for a total transaction of $809,293.78. Following the completion of the transaction, the senior vice president now owns 130,405 shares in the company, valued at $3,451,820.35. This trade represents a 18.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the sale, the insider now directly owns 61,952 shares in the company, valued at $1,300,992. This trade represents a 9.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,450 shares of company stock worth $1,036,206 in the last 90 days. 1.81% of the stock is currently owned by corporate insiders.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $27.45 on Friday. The stock has a fifty day simple moving average of $23.34 and a two-hundred day simple moving average of $22.70. Perdoceo Education Co. has a 52-week low of $16.12 and a 52-week high of $29.47. The firm has a market capitalization of $1.80 billion, a PE ratio of 13.79, a PEG ratio of 0.81 and a beta of 1.04.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The company had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter last year, the company earned $0.64 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. On average, sell-side analysts forecast that Perdoceo Education Co. will post 2.27 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, December 2nd will be issued a $0.13 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.52 dividend on an annualized basis and a yield of 1.89%. Perdoceo Education’s dividend payout ratio is currently 26.13%.

Wall Street Analyst Weigh In

PRDO has been the topic of a number of analyst reports. Barrington Research lifted their price objective on Perdoceo Education from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. StockNews.com cut shares of Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research note on Saturday.

Perdoceo Education Company 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.