Perdoceo Education (NASDAQ:PRDO) Upgraded at Wall Street Zen

Perdoceo Education (NASDAQ:PRDO) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Perdoceo Education in a research note on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $44.00.

Perdoceo Education Stock Up 1.2%

Shares of PRDO opened at $26.88 on Friday. Perdoceo Education has a 12 month low of $26.24 and a 12 month high of $38.50. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 9.46, a price-to-earnings-growth ratio of 0.63 and a beta of 0.76. The company’s fifty day moving average is $32.15 and its 200-day moving average is $33.27.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Thursday, November 5th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.03. The company had revenue of $215.86 million for the quarter, compared to analyst estimates of $211.07 million. Perdoceo Education had a net margin of 20.62% and a return on equity of 18.93%. The company’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. As a group, research analysts predict that Perdoceo Education will post 3.13 earnings per share for the current fiscal year.

Insider Activity

In other Perdoceo Education news, Chairman Gregory L. Jackson sold 11,271 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $31.78, for a total transaction of $358,192.38. Following the completion of the transaction, the chairman owned 64,949 shares of the company’s stock, valued at approximately $2,064,079.22. This trade represents a 14.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Todd Nelson sold 46,199 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $32.89, for a total value of $1,519,485.11. Following the transaction, the chief executive officer directly owned 301,782 shares in the company, valued at $9,925,609.98. This trade represents a 13.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.46% of the stock is owned by company insiders.

Hedge Funds Weigh In On Perdoceo Education

A number of hedge funds have recently bought and sold shares of PRDO. Diversified Trust Co lifted its position in shares of Perdoceo Education by 39.8% during the 3rd quarter. Diversified Trust Co now owns 25,278 shares of the company’s stock worth $782,000 after buying an additional 7,190 shares in the last quarter. Fifth Third Bancorp grew its holdings in Perdoceo Education by 9.7% during the 3rd quarter. Fifth Third Bancorp now owns 61,563 shares of the company’s stock valued at $1,905,000 after buying an additional 5,446 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in Perdoceo Education by 61.4% in the 3rd quarter. Maryland State Retirement & Pension System now owns 13,901 shares of the company’s stock worth $430,000 after acquiring an additional 5,288 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in Perdoceo Education by 645.6% in the third quarter. Ritholtz Wealth Management now owns 70,263 shares of the company’s stock worth $2,174,000 after acquiring an additional 60,839 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of Perdoceo Education by 3.3% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 30,143 shares of the company’s stock valued at $933,000 after purchasing an additional 956 shares in the last quarter. 93.46% of the stock is owned by institutional investors.

About Perdoceo Education

Perdoceo Education Corporation (NASDAQ: PRDO) is a provider of postsecondary education focused primarily on online learning. Through its institutions, the company offers career-oriented academic programs designed for working adults and other nontraditional students.

Perdoceo’s education brands include American InterContinental University and Colorado Technical University, which offer associate, bachelor’s, master’s and doctoral degree programs in areas such as business, information technology, healthcare, criminal justice and engineering.