Franklin Resources Inc. Has $6.36 Million Stake in Perdoceo Education Co. (NASDAQ:PRDO)

Franklin Resources Inc. trimmed its stake in shares of Perdoceo Education Co. (NASDAQ:PRDO - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,084 shares of the company's stock after selling 38,007 shares during the quarter. Franklin Resources Inc. owned about 0.37% of Perdoceo Education worth $6,355,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRDO. Wellington Management Group LLP bought a new stake in shares of Perdoceo Education in the third quarter valued at about $9,374,000. Boston Partners lifted its position in Perdoceo Education by 41.1% during the fourth quarter. Boston Partners now owns 1,209,899 shares of the company's stock worth $32,379,000 after purchasing an additional 352,470 shares during the period. JPMorgan Chase & Co. lifted its position in Perdoceo Education by 27.5% during the fourth quarter. JPMorgan Chase & Co. now owns 742,342 shares of the company's stock worth $19,650,000 after purchasing an additional 160,162 shares during the period. Kennondale Capital Management LLC bought a new stake in Perdoceo Education during the fourth quarter worth about $2,558,000. Finally, Barclays PLC lifted its position in Perdoceo Education by 353.5% during the third quarter. Barclays PLC now owns 110,622 shares of the company's stock worth $2,460,000 after purchasing an additional 86,227 shares during the period. 93.46% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PRDO has been the subject of several recent analyst reports. Barrington Research upped their price objective on shares of Perdoceo Education from $32.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 19th. StockNews.com raised shares of Perdoceo Education from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, February 11th.

Get Our Latest Stock Report on Perdoceo Education

Perdoceo Education Stock Up 4.9 %

Shares of NASDAQ PRDO opened at $26.20 on Thursday. The company has a current ratio of 4.84, a quick ratio of 5.45 and a debt-to-equity ratio of 0.01. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 11.91, a PEG ratio of 0.75 and a beta of 0.87. Perdoceo Education Co. has a 12 month low of $16.56 and a 12 month high of $29.84. The stock has a 50-day moving average price of $26.18 and a two-hundred day moving average price of $25.50.

Perdoceo Education (NASDAQ:PRDO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. The firm had revenue of $176.43 million during the quarter, compared to the consensus estimate of $160.12 million. Perdoceo Education had a return on equity of 16.85% and a net margin of 21.66%. As a group, analysts forecast that Perdoceo Education Co. will post 2.41 earnings per share for the current fiscal year.

Perdoceo Education Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Saturday, March 1st were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, February 28th. Perdoceo Education's payout ratio is 23.64%.

Insider Activity

In related news, CFO Ashish R. Ghia sold 6,236 shares of the business's stock in a transaction on Monday, March 24th. The shares were sold at an average price of $25.00, for a total value of $155,900.00. Following the sale, the chief financial officer now owns 252,130 shares of the company's stock, valued at $6,303,250. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Elise Baskel sold 17,818 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $24.16, for a total value of $430,482.88. Following the transaction, the senior vice president now directly owns 93,354 shares of the company's stock, valued at approximately $2,255,432.64. This represents a 16.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,691 shares of company stock valued at $2,774,669 over the last quarter. 1.81% of the stock is owned by company insiders.

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.

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