Presidio (NASDAQ:PSDO) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Wednesday, November 22nd. The brokerage presently has a $17.00 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 8.14% from the stock’s previous close.
According to Zacks, “Presidio, Inc. provides information technology services. The Company offers enterprise-class solutions, including advanced networking, data analytics and center modernization, hybrid and multi-cloud, cyber risk management, and enterprise mobility as well as a broad suite of professional services, including strategy, consulting, design and implementation. It serves healthcare, education, media and entertainment, retail, manufacturing and distribution and energy and utilities sectors. Presidio, Inc. is based in New York. “
PSDO has been the topic of several other research reports. Royal Bank Of Canada reissued an “outperform” rating and set a $17.00 target price (down previously from $18.00) on shares of Presidio in a research note on Wednesday, September 20th. Barclays reduced their price objective on Presidio from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Friday, September 22nd. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Presidio in a research note on Friday, September 22nd. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $17.75.
Shares of Presidio (NASDAQ:PSDO) traded up $0.29 on Wednesday, reaching $15.72. The company had a trading volume of 269,392 shares, compared to its average volume of 272,981. Presidio has a 52 week low of $12.75 and a 52 week high of $16.90. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.00 and a current ratio of 1.03.
Presidio (NASDAQ:PSDO) last issued its earnings results on Thursday, September 21st. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.05). The company had revenue of $753.90 million during the quarter, compared to the consensus estimate of $741.59 million. The business’s quarterly revenue was up 3.4% on a year-over-year basis. equities analysts expect that Presidio will post 0.64 EPS for the current year.
In other Presidio news, major shareholder Apollo Management Holdings Gp, sold 9,200,000 shares of Presidio stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.70% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. FMR LLC boosted its holdings in shares of Presidio by 23.0% in the 2nd quarter. FMR LLC now owns 8,864,590 shares of the company’s stock worth $126,852,000 after purchasing an additional 1,657,336 shares during the period. Vanguard Group Inc. purchased a new position in shares of Presidio in the 2nd quarter worth approximately $18,605,000. Sandhill Capital Partners LLC purchased a new position in shares of Presidio in the 2nd quarter worth approximately $18,536,000. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Presidio by 11.5% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 1,240,400 shares of the company’s stock worth $17,552,000 after purchasing an additional 128,350 shares during the period. Finally, Jennison Associates LLC boosted its holdings in shares of Presidio by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 1,132,258 shares of the company’s stock worth $16,021,000 after purchasing an additional 50,598 shares during the period. Hedge funds and other institutional investors own 97.46% of the company’s stock.
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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.
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