Presidio (PSDO) Downgraded by BidaskClub
BidaskClub lowered shares of Presidio (NASDAQ:PSDO) from a buy rating to a hold rating in a report released on Tuesday morning.
Several other brokerages have also recently issued reports on PSDO. Wells Fargo & Co set a $21.00 price objective on Presidio and gave the stock a buy rating in a research note on Friday, December 29th. Zacks Investment Research cut Presidio from a buy rating to a hold rating in a research note on Saturday, December 16th. Evercore ISI set a $19.00 price objective on Presidio and gave the stock a buy rating in a research note on Monday, December 11th. Barclays raised their price objective on Presidio from $16.00 to $17.00 and gave the stock an overweight rating in a research note on Tuesday, November 7th. Finally, Royal Bank of Canada restated an outperform rating and issued a $17.00 price objective (down from $18.00) on shares of Presidio in a research note on Wednesday, September 20th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Presidio has an average rating of Buy and an average target price of $18.44.
Shares of Presidio (NASDAQ:PSDO) traded up $0.55 during trading hours on Tuesday, hitting $18.33. The stock had a trading volume of 128,828 shares, compared to its average volume of 173,304. Presidio has a 1 year low of $12.75 and a 1 year high of $19.74. 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 related 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 transaction of $125,212,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in Presidio by 23.0% during the second 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. Vanguard Group Inc. purchased a new position in Presidio during the second quarter valued at approximately $18,605,000. Teachers Advisors LLC acquired a new stake in Presidio in the second quarter valued at approximately $490,000. Wells Fargo & Company MN grew its holdings in Presidio by 18,235.3% in the second quarter. Wells Fargo & Company MN now owns 55,006 shares of the company’s stock valued at $787,000 after purchasing an additional 54,706 shares during the period. Finally, TIAA CREF Investment Management LLC acquired a new stake in Presidio in the second quarter valued at approximately $723,000. Institutional investors own 97.46% of the company’s stock.
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Presidio Company Profile
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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