Cornercap Investment Counsel Inc. Cuts Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Cornercap Investment Counsel Inc. reduced its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 19.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,668 shares of the company’s stock after selling 14,873 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Perdoceo Education were worth $1,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of Perdoceo Education by 32.8% during the 4th quarter. Pacer Advisors Inc. now owns 1,602,905 shares of the company’s stock valued at $28,147,000 after acquiring an additional 395,481 shares during the last quarter. Invesco Ltd. lifted its position in Perdoceo Education by 59.0% in the third quarter. Invesco Ltd. now owns 1,028,253 shares of the company’s stock worth $17,583,000 after buying an additional 381,665 shares during the last quarter. Millennium Management LLC lifted its position in Perdoceo Education by 229.4% in the second quarter. Millennium Management LLC now owns 514,584 shares of the company’s stock worth $6,062,000 after buying an additional 358,361 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Perdoceo Education by 8.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,508,521 shares of the company’s stock worth $40,279,000 after buying an additional 283,804 shares during the last quarter. Finally, Morgan Stanley lifted its position in Perdoceo Education by 34.1% in the third quarter. Morgan Stanley now owns 1,110,910 shares of the company’s stock worth $18,997,000 after buying an additional 282,558 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Perdoceo Education Trading Down 1.5 %

Shares of Perdoceo Education stock opened at $16.85 on Tuesday. The firm has a market cap of $1.11 billion, a P/E ratio of 7.73, a P/E/G ratio of 0.54 and a beta of 0.96. Perdoceo Education Co. has a 12 month low of $11.50 and a 12 month high of $19.62. The stock’s fifty day moving average price is $17.56 and its 200-day moving average price is $17.62.

Perdoceo Education (NASDAQ:PRDO) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.23 by $0.04. The firm had revenue of $147.30 million for the quarter, compared to analyst estimates of $146.20 million. Perdoceo Education had a return on equity of 17.63% and a net margin of 20.80%. The business’s revenue for the quarter was down 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. Analysts forecast that Perdoceo Education Co. will post 2.12 earnings per share for the current year.

Perdoceo Education Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.44 annualized dividend and a yield of 2.61%. Perdoceo Education’s dividend payout ratio (DPR) is presently 20.18%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PRDO shares. Barrington Research reiterated an “outperform” rating and set a $23.00 target price on shares of Perdoceo Education in a research report on Monday. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th.

Insider Buying and Selling at Perdoceo Education

In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $18.50, for a total value of $296,000.00. Following the transaction, the chief executive officer now owns 685,098 shares in the company, valued at $12,674,313. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $18.50, for a total value of $296,000.00. Following the transaction, the chief executive officer now owns 685,098 shares in the company, valued at $12,674,313. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd S. Nelson sold 9,500 shares of Perdoceo Education stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $18.50, for a total value of $175,750.00. Following the completion of the transaction, the chief executive officer now owns 685,098 shares in the company, valued at approximately $12,674,313. The disclosure for this sale can be found here. Insiders have sold 121,500 shares of company stock worth $2,189,350 over the last quarter. Insiders own 2.73% of the company’s stock.

About Perdoceo Education

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.