Presidio (NASDAQ:PSDO) Lowered to Buy at BidaskClub

BidaskClub downgraded shares of Presidio (NASDAQ:PSDO) from a strong-buy rating to a buy rating in a research note released on Wednesday, January 10th.

Other research analysts also recently issued reports about the company. Evercore ISI set a $19.00 target price on Presidio and gave the stock a buy rating in a research note on Monday, December 11th. Zacks Investment Research upgraded Presidio from a sell rating to a buy rating and set a $17.00 target price for the company in a research note on Wednesday, November 22nd. Wells Fargo & Co set a $21.00 target price on Presidio and gave the stock a buy rating in a research note on Friday, December 29th. Royal Bank of Canada reiterated an outperform rating and set a $17.00 target price (down from $18.00) on shares of Presidio in a research note on Wednesday, September 20th. Finally, Barclays reduced their price target on Presidio from $17.00 to $16.00 and set an overweight rating for the company in a research note on Friday, September 22nd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $18.44.

Presidio (NASDAQ:PSDO) traded up $0.19 during mid-day trading on Wednesday, reaching $18.50. The company’s stock had a trading volume of 94,065 shares, compared to its average volume of 173,848. The company has a quick ratio of 1.00, a current ratio of 1.03 and a debt-to-equity ratio of 1.13. Presidio has a 12-month low of $12.75 and a 12-month high of $19.74.

Presidio (NASDAQ:PSDO) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.05. research analysts predict that Presidio will post 0.57 earnings per share for the current fiscal year.

In other Presidio news, major shareholder Apollo Management Holdings Gp, sold 9,200,000 shares of Presidio stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.61, for a total value of $125,212,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC raised its holdings in Presidio by 23.0% in the 2nd quarter. FMR LLC now owns 8,864,590 shares of the company’s stock valued at $126,852,000 after acquiring an additional 1,657,336 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Presidio by 39.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,727,025 shares of the company’s stock valued at $33,107,000 after acquiring an additional 486,625 shares in the last quarter. Vanguard Group Inc. acquired a new position in Presidio in the 2nd quarter valued at $18,605,000. Sandhill Capital Partners LLC acquired a new position in Presidio in the 2nd quarter valued at $18,536,000. Finally, Jennison Associates LLC raised its holdings in Presidio by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 1,132,258 shares of the company’s stock valued at $16,021,000 after acquiring an additional 50,598 shares in the last quarter. 97.51% of the stock is owned by hedge funds and other institutional investors.

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About Presidio

Presidio, Inc is a United States-based company, which is an information technology (IT) solutions provider. The Company’s services include strategy and consulting, solutions design and deployment, managed services, asset maintenance and support, financing services, global services and carrier connectivity.

Analyst Recommendations for Presidio (NASDAQ:PSDO)

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