Louisiana State Employees Retirement System Purchases 4,100 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Posted by Defense World Staff on Oct 13th, 2023

Louisiana State Employees Retirement System grew its position in shares of Perdoceo Education Co. (NASDAQ:PRDO – Free Report) by 13.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,400 shares of the company’s stock after purchasing an additional 4,100 shares during the period. Louisiana State Employees Retirement System owned about 0.05% of Perdoceo Education worth $434,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Lakewood Asset Management LLC lifted its stake in Perdoceo Education by 7.3% during the second quarter. Lakewood Asset Management LLC now owns 14,050 shares of the company’s stock worth $172,000 after purchasing an additional 955 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of Perdoceo Education by 6.1% in the 2nd quarter. Pacer Advisors Inc. now owns 942,832 shares of the company’s stock valued at $11,569,000 after acquiring an additional 54,347 shares during the last quarter. DGS Capital Management LLC lifted its stake in shares of Perdoceo Education by 25.6% in the 1st quarter. DGS Capital Management LLC now owns 19,184 shares of the company’s stock valued at $258,000 after acquiring an additional 3,906 shares during the last quarter. Brandywine Global Investment Management LLC lifted its stake in shares of Perdoceo Education by 0.5% in the 1st quarter. Brandywine Global Investment Management LLC now owns 178,594 shares of the company’s stock valued at $2,399,000 after acquiring an additional 899 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Perdoceo Education by 82.5% in the 1st quarter. Royce & Associates LP now owns 85,617 shares of the company’s stock valued at $1,150,000 after acquiring an additional 38,702 shares during the last quarter. Institutional investors own 93.44% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com assumed coverage on Perdoceo Education in a research note on Thursday, October 5th. They issued a “strong-buy” rating for the company. Barrington Research boosted their target price on Perdoceo Education from $19.00 to $21.00 and gave the company an “outperform” rating in a research note on Friday, August 4th.

Get Our Latest Research Report on Perdoceo Education

Insider Buying and Selling

In related news, Chairman Todd S. Nelson sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $16.50, for a total value of $264,000.00. Following the sale, the chairman now owns 862,252 shares in the company, valued at approximately $14,227,158. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Todd S. Nelson sold 9,154 shares of the company’s stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $16.13, for a total value of $147,654.02. Following the transaction, the chairman now directly owns 685,098 shares of the company’s stock, valued at approximately $11,050,630.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Todd S. Nelson sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $16.50, for a total value of $264,000.00. Following the completion of the transaction, the chairman now directly owns 862,252 shares in the company, valued at $14,227,158. The disclosure for this sale can be found here. Insiders have sold 142,887 shares of company stock worth $2,326,388 in the last 90 days. Insiders own 2.73% of the company’s stock.

Perdoceo Education Price Performance

PRDO opened at $17.63 on Friday. The business has a 50 day simple moving average of $16.75 and a two-hundred day simple moving average of $14.10. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 0.62 and a beta of 1.13. Perdoceo Education Co. has a one year low of $10.10 and a one year high of $18.04.

Perdoceo Education (NASDAQ:PRDO – Get Free Report) last posted its earnings results on Thursday, August 3rd. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Perdoceo Education had a return on equity of 17.41% and a net margin of 17.50%. The firm had revenue of $186.60 million for the quarter, compared to the consensus estimate of $179.40 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. As a group, sell-side analysts expect that Perdoceo Education Co. will post 1.88 EPS for the current fiscal year.

Perdoceo Education Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, August 31st. This represents a $0.44 annualized dividend and a dividend yield of 2.50%. Perdoceo Education’s payout ratio is currently 23.78%.

Perdoceo Education Company Profile

(Free Report)

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. The company operates in two segments, Colorado Technical University and The American InterContinental University System. It offers academic programs in the career-oriented disciplines of business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice, as well as business studies, information technologies, education, and health sciences.