Presidio (PSDO) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Presidio (NASDAQ:PSDO) from a sell rating to a hold rating in a research note published on Wednesday.

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. “

Several other research firms have also issued reports on PSDO. BidaskClub lowered Presidio from a hold rating to a sell rating in a report on Friday, November 2nd. Goldman Sachs Group started coverage on Presidio in a report on Monday, August 27th. They set a neutral rating and a $15.00 target price on the stock. Finally, ValuEngine lowered Presidio from a buy rating to a hold rating in a report on Tuesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $17.83.

NASDAQ PSDO opened at $14.08 on Wednesday. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 3.11 and a beta of 1.27. Presidio has a 12-month low of $11.97 and a 12-month high of $19.74. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.02 and a current ratio of 1.05.

Presidio (NASDAQ:PSDO) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.05). Presidio had a net margin of 4.54% and a return on equity of 5.63%. The business had revenue of $750.00 million during the quarter, compared to analyst estimates of $747.79 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. Presidio’s revenue for the quarter was up 2.6% compared to the same quarter last year. Sell-side analysts anticipate that Presidio will post 0.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Wednesday, December 26th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, December 24th. This represents a $0.16 annualized dividend and a yield of 1.14%. Presidio’s dividend payout ratio is currently 11.51%.

In related news, major shareholder Apollo Management Holdings Gp, sold 3,000,000 shares of Presidio stock in a transaction that occurred on Thursday, September 20th. The stock was sold at an average price of $15.24, for a total transaction of $45,720,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Lerner bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 15th. The shares were bought at an average cost of $13.22 per share, for a total transaction of $132,200.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at $264,400. The disclosure for this purchase can be found here. Company insiders own 2.00% of the company’s stock.

Several large investors have recently made changes to their positions in PSDO. Sun Life Financial INC purchased a new position in shares of Presidio during the second quarter valued at approximately $144,000. Verition Fund Management LLC purchased a new position in shares of Presidio during the third quarter valued at approximately $165,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Presidio by 49.1% during the second quarter. Metropolitan Life Insurance Co. NY now owns 13,131 shares of the company’s stock valued at $172,000 after buying an additional 4,324 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Presidio during the second quarter valued at approximately $175,000. Finally, Alambic Investment Management L.P. purchased a new position in shares of Presidio during the second quarter valued at approximately $186,000.

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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