Perdoceo Education (NASDAQ:PRDO) Stock Rating Raised to Buy at Wall Street Zen

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

Separately, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Perdoceo Education in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.00.

Perdoceo Education Trading Up 1.2%

PRDO stock opened at $26.88 on Friday. The business has a 50 day simple moving average of $32.15 and a 200-day simple moving average of $33.27. Perdoceo Education has a twelve month low of $26.24 and a twelve month high of $38.50. The company has a market capitalization of $1.68 billion, a P/E ratio of 9.46, a PEG ratio of 0.63 and a beta of 0.76.

Perdoceo Education (NASDAQ:PRDO) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03. The business had revenue of $215.86 million during the quarter, compared to the consensus estimate of $211.07 million. Perdoceo Education had a return on equity of 18.93% and a net margin of 20.62%. The business’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Research analysts predict that Perdoceo Education will post 3.13 EPS for the current fiscal year.

Insider Transactions at Perdoceo Education

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

Institutional Investors Weigh In On Perdoceo Education

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Perdoceo Education by 0.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,318 shares of the company’s stock valued at $3,338,000 after purchasing an additional 525 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Perdoceo Education by 4.5% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 14,000 shares of the company’s stock worth $433,000 after purchasing an additional 600 shares during the period. Baron Wealth Management LLC raised its holdings in shares of Perdoceo Education by 9.5% in the 2nd quarter. Baron Wealth Management LLC now owns 7,356 shares of the company’s stock valued at $235,000 after acquiring an additional 636 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Perdoceo Education by 48.8% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,132 shares of the company’s stock valued at $63,000 after acquiring an additional 699 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Perdoceo Education by 16.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,380 shares of the company’s stock valued at $166,000 after buying an additional 749 shares during the period. Institutional investors and hedge funds own 93.46% of the company’s stock.

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.