Watershed Asset Management L.L.C. Sells 1,933 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Watershed Asset Management L.L.C. decreased its position in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 11.7% in the 4th quarter, Holdings Channel reports. The fund owned 14,560 shares of the company’s stock after selling 1,933 shares during the quarter. Watershed Asset Management L.L.C.’s holdings in Perdoceo Education were worth $256,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Perdoceo Education by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 5,825,801 shares of the company’s stock worth $99,621,000 after purchasing an additional 31,350 shares during the period. Pacer Advisors Inc. boosted its stake in Perdoceo Education by 32.8% in the 4th quarter. Pacer Advisors Inc. now owns 1,602,905 shares of the company’s stock worth $28,147,000 after purchasing an additional 395,481 shares during the period. American Century Companies Inc. boosted its stake in Perdoceo Education by 10.2% in the 3rd quarter. American Century Companies Inc. now owns 1,034,888 shares of the company’s stock worth $17,697,000 after purchasing an additional 95,672 shares during the period. Invesco Ltd. boosted its stake in Perdoceo Education by 59.0% in the 3rd quarter. Invesco Ltd. now owns 1,028,253 shares of the company’s stock worth $17,583,000 after purchasing an additional 381,665 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Perdoceo Education by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 932,515 shares of the company’s stock worth $15,946,000 after purchasing an additional 13,860 shares during the period. Institutional investors own 93.46% of the company’s stock.

Perdoceo Education Price Performance

Shares of NASDAQ:PRDO traded up $0.58 on Wednesday, hitting $18.42. The company’s stock had a trading volume of 641,513 shares, compared to its average volume of 505,671. The company has a 50-day simple moving average of $17.49 and a 200 day simple moving average of $17.62. Perdoceo Education Co. has a 1 year low of $11.50 and a 1 year high of $19.62. The company has a market capitalization of $1.21 billion, a PE ratio of 8.18, a PEG ratio of 0.55 and a beta of 0.96.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.04. Perdoceo Education had a return on equity of 17.63% and a net margin of 20.80%. The firm had revenue of $147.30 million for the quarter, compared to analysts’ expectations of $146.20 million. During the same quarter last year, the firm posted $0.31 EPS. The company’s revenue was down 16.4% compared to the same quarter last year. On average, equities research analysts expect that Perdoceo Education Co. will post 2.12 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.11 per share. The ex-dividend date was Thursday, February 29th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.39%. Perdoceo Education’s dividend payout ratio is 20.18%.

Analysts Set New Price Targets

PRDO has been the subject of several analyst reports. Barrington Research restated an “outperform” rating and issued a $23.00 target price on shares of Perdoceo Education in a research note on Monday, April 15th. StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, March 19th.

Insider Activity at Perdoceo Education

In related news, CEO Todd S. Nelson sold 16,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $18.50, for a total transaction of $296,000.00. Following the transaction, the chief executive officer now directly owns 685,098 shares of the company’s stock, valued at approximately $12,674,313. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Todd S. Nelson sold 16,000 shares of the firm’s stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $18.50, for a total transaction of $296,000.00. Following the transaction, the chief executive officer now directly owns 685,098 shares of the company’s stock, valued at approximately $12,674,313. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Todd S. Nelson sold 9,500 shares of the firm’s 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 transaction, the chief executive officer now directly owns 685,098 shares in the company, valued at $12,674,313. The disclosure for this sale can be found here. In the last three months, insiders have sold 105,500 shares of company stock valued at $1,893,350. Corporate insiders own 1.81% of the company’s stock.

Perdoceo Education 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.