Zacks Investment Research Lowers Presidio (NASDAQ:PSDO) to Hold

Zacks Investment Research cut shares of Presidio (NASDAQ:PSDO) from a buy rating to a hold rating in a research report sent to investors on Saturday, December 16th.

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 recently weighed in on PSDO. Barclays upped their price objective on Presidio from $16.00 to $17.00 and gave the stock an overweight rating in a research report on Tuesday, November 7th. Evercore ISI reissued a buy rating and set a $19.00 price target on shares of Presidio in a research report on Friday, September 22nd. Finally, Royal Bank of Canada restated an outperform rating and issued a $17.00 price objective (down previously from $18.00) on shares of Presidio in a research note on Wednesday, September 20th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $18.11.

Shares of Presidio (PSDO) opened at $19.17 on Friday. Presidio has a fifty-two week low of $12.75 and a fifty-two week high of $19.49. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.00.

In other Presidio news, major shareholder Apollo Management Holdings Gp, sold 9,200,000 shares of Presidio stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.61, for a total transaction of $125,212,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in PSDO. Advisor Group Inc. purchased a new position in shares of Presidio in the 2nd quarter worth approximately $103,000. Nationwide Fund Advisors purchased a new position in Presidio in the second quarter valued at approximately $153,000. Cubist Systematic Strategies LLC lifted its stake in Presidio by 802.7% in the second quarter. Cubist Systematic Strategies LLC now owns 11,735 shares of the company’s stock valued at $168,000 after purchasing an additional 10,435 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Presidio in the second quarter valued at approximately $201,000. Finally, Balter Liquid Alternatives LLC purchased a new position in Presidio in the second quarter valued at approximately $233,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.

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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.

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