Inspire Investing LLC Decreases Holdings in Perdoceo Education Co. (NASDAQ:PRDO)

Inspire Investing LLC cut its stake in Perdoceo Education Co. (NASDAQ:PRDO) by 23.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 38,180 shares of the company’s stock after selling 11,539 shares during the quarter. Inspire Investing LLC’s holdings in Perdoceo Education were worth $818,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Perdoceo Education by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 946,603 shares of the company’s stock valued at $16,622,000 after buying an additional 14,088 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Perdoceo Education during the fourth quarter worth $474,000. Assetmark Inc. lifted its position in shares of Perdoceo Education by 4.1% during the fourth quarter. Assetmark Inc. now owns 83,338 shares of the company’s stock worth $1,463,000 after purchasing an additional 3,260 shares in the last quarter. AXS Investments LLC purchased a new position in shares of Perdoceo Education in the fourth quarter valued at $291,000. Finally, Alberta Investment Management Corp acquired a new stake in Perdoceo Education during the 4th quarter valued at $911,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Perdoceo Education Stock Down 0.5 %

Shares of NASDAQ PRDO opened at $22.23 on Friday. Perdoceo Education Co. has a fifty-two week low of $16.12 and a fifty-two week high of $26.40. The business has a 50 day moving average price of $22.80 and a two-hundred day moving average price of $21.09. The firm has a market cap of $1.46 billion, a PE ratio of 9.79, a price-to-earnings-growth ratio of 0.65 and a beta of 1.03.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $166.74 million during 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 business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. On average, analysts anticipate that Perdoceo Education Co. will post 2.19 earnings per share for the current year.

Perdoceo Education Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Sunday, September 1st were given a dividend of $0.13 per share. This is a boost from Perdoceo Education’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 2.34%. Perdoceo Education’s dividend payout ratio (DPR) is presently 22.91%.

Insider Buying and Selling

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of the company’s stock in a transaction that occurred 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 owns 61,952 shares in the company, valued at $1,300,992. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Michele A. Peppers sold 6,476 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $21.00, for a total value of $135,996.00. Following the completion of the sale, the insider now directly owns 61,952 shares in the company, valued at approximately $1,300,992. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William Dean Hansen sold 13,185 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $23.01, for a total value of $303,386.85. Following the transaction, the director now owns 39,016 shares in the company, valued at $897,758.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,325 shares of company stock worth $1,044,656. Corporate insiders own 1.81% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barrington Research reiterated an “outperform” rating and issued a $30.00 price objective on shares of Perdoceo Education in a report on Friday.

Perdoceo Education Company 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.