Bridgeway Capital Management Inc. increased its holdings in Presidio Inc (NASDAQ:PSDO) by 418.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 359,300 shares of the company’s stock after buying an additional 290,000 shares during the quarter. Bridgeway Capital Management Inc. owned about 0.44% of Presidio worth $5,479,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its stake in Presidio by 6.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,129,434 shares of the company’s stock worth $27,896,000 after buying an additional 136,647 shares during the period. Comerica Bank increased its stake in Presidio by 12.4% in the 2nd quarter. Comerica Bank now owns 296,186 shares of the company’s stock worth $3,945,000 after buying an additional 32,573 shares during the period. First Trust Advisors LP purchased a new position in Presidio in the 2nd quarter worth about $1,619,000. IndexIQ Advisors LLC increased its stake in Presidio by 9.5% in the 2nd quarter. IndexIQ Advisors LLC now owns 139,859 shares of the company’s stock worth $1,832,000 after buying an additional 12,153 shares during the period. Finally, Sei Investments Co. increased its stake in Presidio by 9.1% in the 2nd quarter. Sei Investments Co. now owns 64,214 shares of the company’s stock worth $841,000 after buying an additional 5,331 shares during the period.
Several research analysts recently commented on the stock. Zacks Investment Research raised shares of Presidio from a “sell” rating to a “hold” rating in a research note on Wednesday. ValuEngine raised shares of Presidio from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. BidaskClub raised shares of Presidio from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. Finally, Goldman Sachs Group assumed coverage on shares of Presidio in a research note on Monday, August 27th. They issued a “neutral” rating and a $15.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $17.83.
Presidio (NASDAQ:PSDO) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). Presidio had a net margin of 4.54% and a return on equity of 5.63%. The firm had revenue of $750.00 million during the quarter, compared to the consensus estimate of $747.79 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts forecast that Presidio Inc will post 0.56 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Wednesday, December 26th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Monday, December 24th. Presidio’s dividend payout ratio is currently 11.51%.
In related news, Director Steven J. Lerner bought 10,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was bought at an average cost of $13.22 per share, for a total transaction of $132,200.00. Following the purchase, the director now directly owns 20,000 shares of the company’s stock, valued at $264,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Apollo Management Holdings Gp, sold 10,750,000 shares of Presidio stock in a transaction that occurred on Wednesday, September 12th. The stock was sold at an average price of $14.75, for a total transaction of $158,562,500.00. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
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Presidio Company Profile
Presidio, Inc provides information technology (IT) solutions to the middle market in North America. The company offers digital infrastructure solutions that enable clients to deploy IT infrastructure, as well as focuses on networking, collaboration, enterprise mobility, Internet of Things, and data analytics.
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