Cornercap Investment Counsel Inc. Sells 14,873 Shares of Perdoceo Education Co. (NASDAQ:PRDO)

Cornercap Investment Counsel Inc. reduced its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO) by 19.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,668 shares of the company’s stock after selling 14,873 shares during the quarter. Cornercap Investment Counsel Inc. owned about 0.09% of Perdoceo Education worth $1,083,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PRDO. McGlone Suttner Wealth Management Inc. acquired a new position in Perdoceo Education in the fourth quarter valued at approximately $26,000. Planned Solutions Inc. acquired a new position in Perdoceo Education in the fourth quarter valued at approximately $26,000. NewEdge Advisors LLC acquired a new position in Perdoceo Education in the first quarter valued at approximately $41,000. Captrust Financial Advisors lifted its holdings in Perdoceo Education by 63.7% in the first quarter. Captrust Financial Advisors now owns 4,248 shares of the company’s stock valued at $49,000 after buying an additional 1,653 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in Perdoceo Education by 325.4% in the third quarter. Tower Research Capital LLC TRC now owns 5,530 shares of the company’s stock valued at $95,000 after buying an additional 4,230 shares during the period. 93.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PRDO shares. Barrington Research reiterated an “outperform” rating and issued a $23.00 target price on shares of Perdoceo Education in a report on Monday. StockNews.com upgraded shares of Perdoceo Education from a “buy” rating to a “strong-buy” rating in a report on Tuesday, March 19th.

Perdoceo Education Stock Down 1.5 %

Shares of PRDO stock opened at $16.85 on Tuesday. The firm has a fifty day moving average of $17.56 and a 200-day moving average of $17.62. Perdoceo Education Co. has a 12-month low of $11.50 and a 12-month high of $19.62. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.73, a P/E/G ratio of 0.54 and a beta of 0.96.

Perdoceo Education (NASDAQ:PRDO) last released its earnings results on Wednesday, February 21st. The company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.04. The business had revenue of $147.30 million during the quarter, compared to the consensus estimate of $146.20 million. Perdoceo Education had a net margin of 20.80% and a return on equity of 17.63%. The firm’s revenue for the quarter was down 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. On average, equities analysts expect that Perdoceo Education Co. will post 2.12 EPS for the current year.

Perdoceo Education Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Thursday, February 29th. Perdoceo Education’s dividend payout ratio (DPR) is presently 20.18%.

Insider Activity

In other news, CEO Todd S. Nelson sold 16,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $18.50, for a total transaction of $296,000.00. Following the completion of the sale, the chief executive officer now owns 685,098 shares in the company, valued at approximately $12,674,313. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Perdoceo Education news, CEO Todd S. Nelson sold 16,000 shares of Perdoceo Education stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $18.50, for a total value of $296,000.00. Following the completion of the sale, the chief executive officer now owns 685,098 shares in the company, valued at approximately $12,674,313. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd S. Nelson sold 9,500 shares of Perdoceo Education stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $18.50, for a total transaction of $175,750.00. Following the completion of the sale, the chief executive officer now owns 685,098 shares of the company’s stock, valued at approximately $12,674,313. The disclosure for this sale can be found here. Insiders sold a total of 121,500 shares of company stock valued at $2,189,350 in the last quarter. Company insiders own 2.73% 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.