Perdoceo Education (NASDAQ:PRDO) Upgraded at StockNews.com

Perdoceo Education (NASDAQ:PRDO) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

Separately, Barrington Research upped their price target on shares of Perdoceo Education from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday.

Perdoceo Education Stock Down 5.9 %

Shares of PRDO stock traded down $1.66 during mid-day trading on Thursday, reaching $26.30. The company’s stock had a trading volume of 585,334 shares, compared to its average volume of 466,214. The company’s 50 day simple moving average is $22.07 and its 200-day simple moving average is $22.33. The firm has a market capitalization of $1.73 billion, a PE ratio of 13.22, a price-to-earnings-growth ratio of 0.76 and a beta of 1.04. Perdoceo Education has a 12-month low of $16.12 and a 12-month high of $29.47.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.53 by $0.06. The business had revenue of $169.83 million during the quarter, compared to analyst estimates of $164.60 million. Perdoceo Education had a net margin of 20.42% and a return on equity of 15.88%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. As a group, research analysts anticipate that Perdoceo Education will post 2.19 EPS for the current fiscal year.

Insider Buying and Selling at Perdoceo Education

In other Perdoceo Education news, insider Michele A. Peppers sold 6,476 shares of Perdoceo Education stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $21.00, for a total value 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 trade was a 9.46 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.81% of the company’s stock.

Institutional Trading of Perdoceo Education

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Boston Partners boosted its stake in shares of Perdoceo Education by 979.2% in the 1st quarter. Boston Partners now owns 750,979 shares of the company’s stock valued at $13,376,000 after purchasing an additional 681,391 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Perdoceo Education by 24.3% in the second quarter. Pacer Advisors Inc. now owns 2,650,123 shares of the company’s stock valued at $56,766,000 after purchasing an additional 518,048 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Perdoceo Education by 944.8% in the second quarter. Millennium Management LLC now owns 246,659 shares of the company’s stock valued at $5,283,000 after purchasing an additional 223,050 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Perdoceo Education in the second quarter valued at about $3,634,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Perdoceo Education in the second quarter valued at about $2,519,000. Institutional investors own 93.46% 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.