American Century Companies Inc. Boosts Stake in Perdoceo Education Co. (NASDAQ:PRDO)

American Century Companies Inc. grew its position in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 7.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,384,674 shares of the company’s stock after buying an additional 101,575 shares during the quarter. American Century Companies Inc. owned 2.11% of Perdoceo Education worth $29,660,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in Perdoceo Education by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 946,603 shares of the company’s stock worth $16,622,000 after purchasing an additional 14,088 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Perdoceo Education by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,064,870 shares of the company’s stock valued at $88,940,000 after buying an additional 74,877 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Perdoceo Education during the fourth quarter worth about $474,000. Assetmark Inc. raised its position in Perdoceo Education by 4.1% in the fourth quarter. Assetmark Inc. now owns 83,338 shares of the company’s stock worth $1,463,000 after acquiring an additional 3,260 shares during the period. Finally, AXS Investments LLC purchased a new position in Perdoceo Education in the fourth quarter valued at about $291,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Insider Transactions at Perdoceo Education

In related news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total transaction of $135,996.00. Following the sale, the insider now directly owns 61,952 shares in the company, valued at approximately $1,300,992. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total transaction of $135,996.00. Following the sale, the insider now owns 61,952 shares of the company’s stock, valued at approximately $1,300,992. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gregory L. Jackson sold 26,664 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $22.70, for a total transaction of $605,272.80. Following the completion of the sale, the chairman now owns 58,644 shares in the company, valued at $1,331,218.80. The disclosure for this sale can be found here. Insiders sold 46,325 shares of company stock valued at $1,044,656 over the last three months. Company insiders own 1.81% of the company’s stock.

Perdoceo Education Price Performance

Shares of NASDAQ PRDO opened at $21.91 on Thursday. The stock has a market capitalization of $1.44 billion, a PE ratio of 9.65, a P/E/G ratio of 0.65 and a beta of 1.03. Perdoceo Education Co. has a one year low of $16.12 and a one year high of $26.40. The business’s fifty day moving average price is $22.77 and its 200-day moving average price is $21.05.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $166.74 million for the quarter, compared to the consensus estimate of $160.91 million. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. As a group, equities analysts expect that Perdoceo Education Co. will post 2.19 EPS for the current fiscal year.

Perdoceo Education Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Sunday, September 1st were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.37%. This is an increase from Perdoceo Education’s previous quarterly dividend of $0.11. Perdoceo Education’s dividend payout ratio is currently 22.91%.

Wall Street Analysts Forecast Growth

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $30.00 price target on shares of Perdoceo Education in a report on Wednesday, August 21st.

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.