Perdoceo Education (NASDAQ:PRDO) Price Target Raised to $30.00 at Barrington Research

Perdoceo Education (NASDAQ:PRDO) had its price objective increased by Barrington Research from $27.00 to $30.00 in a research report sent to investors on Thursday morning, Benzinga reports. Barrington Research currently has an outperform rating on the stock.

Separately, StockNews.com cut shares of Perdoceo Education from a strong-buy rating to a buy rating in a report on Thursday, April 25th.

Perdoceo Education Stock Down 5.5 %

Shares of NASDAQ PRDO traded down $1.31 on Thursday, reaching $22.66. 55,874 shares of the company’s stock traded hands, compared to its average volume of 499,390. The business’s 50 day simple moving average is $22.26 and its two-hundred day simple moving average is $20.03. Perdoceo Education has a 12 month low of $15.79 and a 12 month high of $26.40. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 10.56, a price-to-earnings-growth ratio of 0.74 and a beta of 1.02.

Perdoceo Education (NASDAQ:PRDO) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Perdoceo Education had a net margin of 20.57% and a return on equity of 16.42%. The firm had revenue of $166.74 million for the quarter, compared to analysts’ expectations of $160.91 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Analysts forecast that Perdoceo Education will post 2.21 earnings per share for the current fiscal year.

Perdoceo Education Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Sunday, September 1st will be issued a $0.13 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.52 annualized dividend and a yield of 2.29%. This is a boost from Perdoceo Education’s previous quarterly dividend of $0.11. Perdoceo Education’s dividend payout ratio (DPR) is currently 22.91%.

Institutional Investors Weigh In On Perdoceo Education

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRDO. Rhumbline Advisers boosted its stake in shares of Perdoceo Education by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 207,644 shares of the company’s stock worth $4,448,000 after acquiring an additional 1,511 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Perdoceo Education during the 2nd quarter worth $92,000. Picton Mahoney Asset Management purchased a new position in shares of Perdoceo Education during the 2nd quarter worth $155,000. Innealta Capital LLC purchased a new position in shares of Perdoceo Education during the 2nd quarter worth $74,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Perdoceo Education by 1.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 33,000 shares of the company’s stock worth $707,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

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.