StockNews.com Downgrades Perdoceo Education (NASDAQ:PRDO) to Buy

Perdoceo Education (NASDAQ:PRDO) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Saturday.

Separately, Barrington Research increased their price objective on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th.

Perdoceo Education Stock Down 0.7 %

Shares of NASDAQ PRDO opened at $27.45 on Friday. The stock has a market capitalization of $1.80 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.81 and a beta of 1.04. The firm’s 50-day moving average price is $23.34 and its two-hundred day moving average price is $22.70. Perdoceo Education has a 52-week low of $16.12 and a 52-week high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 earnings per share (EPS) for the quarter, topping 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 business 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 business posted $0.64 EPS. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts expect that Perdoceo Education will post 2.27 earnings per share for the current year.

Insider Activity at Perdoceo Education

In related news, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the sale, the insider now 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 document filed with the SEC, which is available through the SEC website. Also, Director Patrick W. Gross sold 3,400 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $26.74, for a total transaction of $90,916.00. Following the completion of the transaction, the director now 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. Insiders have sold a total of 40,450 shares of company stock worth $1,036,206 in the last three months. 1.81% of the stock is owned by company insiders.

Institutional Trading of Perdoceo Education

A number of institutional investors have recently made changes to their positions in the stock. Quarry LP increased its stake in shares of Perdoceo Education by 1,306.3% during the second quarter. Quarry LP now owns 1,350 shares of the company’s stock valued at $29,000 after acquiring an additional 1,254 shares during the period. Blue Trust Inc. raised its stake in shares of Perdoceo Education by 38.7% in the 3rd quarter. Blue Trust Inc. now owns 1,762 shares of the company’s stock worth $38,000 after buying an additional 492 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Perdoceo Education in the second quarter valued at $39,000. Fifth Third Bancorp boosted its stake in Perdoceo Education by 650.6% during the second quarter. Fifth Third Bancorp now owns 1,884 shares of the company’s stock valued at $40,000 after buying an additional 1,633 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in Perdoceo Education during the second quarter valued at about $74,000. 93.46% of the stock is owned by institutional investors and hedge funds.

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.