Perdoceo Education (NASDAQ:PRDO) Price Target Raised to $32.00

Perdoceo Education (NASDAQ:PRDO) had its price target increased by Barrington Research from $30.00 to $32.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock. Barrington Research also issued estimates for Perdoceo Education’s Q4 2024 earnings at $0.48 EPS, FY2024 earnings at $2.27 EPS and FY2025 earnings at $2.36 EPS.

Perdoceo Education Stock Performance

Shares of PRDO stock opened at $26.55 on Wednesday. Perdoceo Education has a 52-week low of $16.12 and a 52-week high of $29.47. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.82 and a beta of 1.04. The firm has a fifty day moving average of $22.27 and a 200-day moving average of $22.41.

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

Perdoceo Education Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Monday, December 2nd. Perdoceo Education’s dividend payout ratio (DPR) is currently 26.13%.

Insider Buying and Selling

In related news, insider Michele A. Peppers sold 6,476 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the completion of the sale, the insider now owns 61,952 shares in the company, valued at $1,300,992. This trade represents a 9.46 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Perdoceo Education

Hedge funds have recently made changes to their positions in the company. Boston Partners grew its holdings in Perdoceo Education by 979.2% during the 1st quarter. Boston Partners now owns 750,979 shares of the company’s stock worth $13,376,000 after acquiring an additional 681,391 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Perdoceo Education by 24.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company’s stock worth $56,766,000 after acquiring an additional 518,048 shares during the last quarter. Wellington Management Group LLP bought a new stake in Perdoceo Education during the 3rd quarter worth about $9,374,000. Millennium Management LLC grew its holdings in Perdoceo Education by 944.8% during the 2nd quarter. Millennium Management LLC now owns 246,659 shares of the company’s stock worth $5,283,000 after acquiring an additional 223,050 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Perdoceo Education during the 2nd quarter worth about $3,634,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

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.