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DeVry Announces Name Change

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DeVry, Inc. is now known as DeVry Education Group Inc. ; the name change intended to highlight the post-secondary education service providers’ diversified academic program portfolio. The company announced its plans to change its name in August this year.

The Illinois-based company offers a diversified group of programs through its subsidiaries — American University of the Caribbean, Becker Professional Education, Carrington College and Carrington College California, Chamberlain College of Nursing, DeVry Brasil, DeVry University (including Keller Graduate School of Management) and Ross University.

A few years back, the company was heavily focused on technology programs through DeVry University, one of the largest private, degree-granting, regionally accredited, higher education institution in North America. With the downturn in the technology sector, the company has shifted its focus toward creating a diversified group of institutions, which offer other higher demand programs and courses. The company now offers a balanced portfolio of programs in the fields of business, healthcare and technology and also serves accounting and finance professionals.

The diversified offering of academic programs gives the company a competitive advantage. Diversification mitigates the company’s risks while driving growth and attracting and developing talent across DeVry by offering a broader range of career opportunities. Geographically, also, DeVry is quite diversified with almost one-fifth of its revenues coming from outside the U.S., mainly from DeVry Brasil. In fact, DeVry’s healthcare (Chamberlain, Carrington and Ross) and international institutions have shown significant improvement in revenues and profitability in all the quarters of fiscal 2013. This improvement has made up for the sluggish enrollment trends at the flagship DeVry University.

Other Stocks to Consider

DeVry carries a Zacks Rank #3 (Hold). Some other schools that are doing well and can be considered include Xueda Education Group. , New Oriental Education & Technology Group Inc. (EDU - Free Report) and ITT Educational Services Inc. . All the three companies carry a Zacks Rank #1 (Strong Buy).

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