Jennison Associates LLC Purchases 16,502 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Jennison Associates LLC raised its position in Perdoceo Education Co. (NASDAQ:PRDOFree Report) by 40.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 57,351 shares of the company’s stock after acquiring an additional 16,502 shares during the period. Jennison Associates LLC owned approximately 0.09% of Perdoceo Education worth $1,007,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. LSV Asset Management raised its stake in Perdoceo Education by 117.7% in the 4th quarter. LSV Asset Management now owns 1,213,839 shares of the company’s stock worth $21,315,000 after acquiring an additional 656,280 shares during the last quarter. Stratos Wealth Advisors LLC acquired a new stake in Perdoceo Education during the 4th quarter valued at approximately $1,126,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Perdoceo Education in the 4th quarter valued at $922,000. Summit Global Investments acquired a new stake in shares of Perdoceo Education in the fourth quarter worth $697,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Perdoceo Education by 43.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,217,547 shares of the company’s stock worth $21,380,000 after purchasing an additional 366,202 shares during the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Perdoceo Education Stock Performance

PRDO stock opened at $20.95 on Wednesday. Perdoceo Education Co. has a one year low of $12.30 and a one year high of $24.66. The firm’s fifty day moving average is $22.20 and its 200 day moving average is $19.26. The firm has a market cap of $1.37 billion, a PE ratio of 9.23, a P/E/G ratio of 0.65 and a beta of 1.02.

Perdoceo Education (NASDAQ:PRDOGet Free Report) last posted its earnings results on Wednesday, May 1st. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.07. The firm had revenue of $168.30 million for the quarter, compared to analysts’ expectations of $163.30 million. Perdoceo Education had a return on equity of 17.09% and a net margin of 22.35%. The company’s quarterly revenue was down 14.0% on a year-over-year basis. During the same period last year, the firm earned $0.58 EPS. Research analysts predict that Perdoceo Education Co. will post 2.21 earnings per share for the current fiscal year.

Perdoceo Education Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, June 15th. Stockholders of record on Saturday, June 1st were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.10%. Perdoceo Education’s dividend payout ratio (DPR) is 19.38%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PRDO. StockNews.com downgraded Perdoceo Education from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th. Barrington Research boosted their price target on Perdoceo Education from $23.00 to $25.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd.

Read Our Latest Research Report on Perdoceo Education

Insider Activity at Perdoceo Education

In other Perdoceo Education news, CFO Ashish R. Ghia sold 11,412 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $19.00, for a total transaction of $216,828.00. Following the completion of the transaction, the chief financial officer now directly owns 226,234 shares in the company, valued at $4,298,446. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.81% of the stock is owned by corporate insiders.

Perdoceo Education Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Perdoceo Education (NASDAQ:PRDO)

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