Zacks Investment Research downgraded shares of Presidio, Inc. (NASDAQ:PSDO) from a hold rating to a sell rating in a report published on Tuesday morning.

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. “

A number of other equities research analysts have also recently commented on the company. Evercore ISI reiterated a buy rating and set a $19.00 target price on shares of Presidio in a report on Friday, September 22nd. Barclays PLC lowered their target price on Presidio from $17.00 to $16.00 and set an overweight rating on the stock in a report on Friday, September 22nd. Finally, Royal Bank Of Canada reiterated an outperform rating and set a $17.00 target price (down previously from $18.00) on shares of Presidio in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $17.71.

Shares of Presidio (NASDAQ PSDO) traded up 0.60% during mid-day trading on Tuesday, hitting $15.00. The stock had a trading volume of 240,275 shares. The company’s market cap is $1.37 billion. The stock has a 50 day moving average price of $14.25 and a 200-day moving average price of $14.25. Presidio has a 52-week low of $12.75 and a 52-week high of $16.38.

Presidio (NASDAQ:PSDO) last released its quarterly earnings data on Thursday, September 21st. The company reported $0.11 earnings per share 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 analysts’ expectations of $741.59 million. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts expect that Presidio will post $1.26 earnings per share for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System acquired a new stake in shares of Presidio during the second quarter worth $482,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Presidio during the second quarter worth $201,000. Cubist Systematic Strategies LLC boosted its holdings in shares of Presidio by 802.7% during the second quarter. Cubist Systematic Strategies LLC now owns 11,735 shares of the company’s stock worth $168,000 after purchasing an additional 10,435 shares during the last quarter. State Street Corp acquired a new stake in shares of Presidio during the second quarter worth $3,390,000. Finally, Sandhill Capital Partners LLC acquired a new stake in shares of Presidio during the second quarter worth $18,536,000. Institutional investors and hedge funds own 96.82% of the company’s stock.

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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