Strategic Education, Inc. STRA announced a partnership with Noodle Partners for WorkforceEdge, a complete employee education management platform.
WorkforceEdge streamlines user experience for both employers and employees. Through this platform, employees can access relevant online undergraduate and graduate programs, as well as affordable courses within Noodle’s network of top public and private universities, along with Strategic Education’s Strayer and Capella universities. Also, it will help employers to administer and disburse tuition assistance benefits for employees, as well as better understand their spend and return on investment.
Noodle Partners helps a growing network of colleges and universities to use technology and shared services for lowering costs, while raising capacity and faculty-to-student engagement.
Karl McDonnell, chief executive officer of Strategic Education said, “We believe this combination of flexibility, efficiency, quality, cost and choice create a dynamic solution to the challenges employers and employees currently face when it comes to education, upskilling and training.”
Strategic Education has been investing in new programs and specializations to improve student outcomes. Also, it has been partnering with various institutions to assist employers and employees with various innovative moves. It has partnered with more than 750 employers and provides a suite of groundbreaking education solutions to help them build as well as retain a skilled workforce.
According to the Society for Human Resource Management, less than 5% of employees take advantage of education benefits, at many organizations. The partnership will facilitate employees to take better advantage of such benefits.
Share Price Performance
Shares of the company have declined 40.4% against the Zacks Schools industry’s 9.2% growth in the past three months. The downside was mainly caused by reduced enrollment and lower projections for second-quarter 2020. It noted that the impact of rising unemployment was largely seen at Strayer as a result of undergraduate student mix, including many first-time college students.
For the summer academic term, which represents Strayer’s third-quarter enrollment, Strategic Education anticipates new student enrollment to be down 27% from the prior year and total enrollment to decline 0-1%. Overall, for the third quarter, the company expects both revenues and adjusted operating income to remain flat year over year.
Nonetheless, the recent collaboration will somewhat offset these negatives.
Strategic Education — which shares space with Adtalem Global Education Inc. ATGE, Laureate Education Inc. LAUR and American Public Education, Inc. APEI in the same industry — currently carries a Zacks Rank #5 (Strong Sell).
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