Presidio (PSDO) Upgraded to Strong-Buy at BidaskClub
BidaskClub upgraded shares of Presidio (NASDAQ:PSDO) from a buy rating to a strong-buy rating in a research note released on Wednesday morning.
Several other equities analysts also recently weighed in on the stock. Zacks Investment Research raised shares of Presidio from a sell rating to a buy rating and set a $17.00 price target on the stock in a report on Wednesday, November 22nd. Barclays lifted their price target on shares of Presidio from $16.00 to $17.00 and gave the company an overweight rating in a report on Tuesday, November 7th. Royal Bank of Canada reaffirmed an outperform rating and set a $17.00 price target (down previously from $18.00) on shares of Presidio in a report on Wednesday, September 20th. Finally, Evercore ISI set a $19.00 price target on shares of Presidio and gave the company a buy rating in a report on Monday, December 11th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $17.75.
Shares of Presidio (NASDAQ PSDO) traded up $0.11 during trading hours on Wednesday, reaching $18.55. 142,600 shares of the company’s stock traded hands, compared to its average volume of 274,727. The company has a current ratio of 1.03, a quick ratio of 1.00 and a debt-to-equity ratio of 1.13. Presidio has a twelve month low of $12.75 and a twelve month high of $18.65.
In other 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 shares were sold at an average price of $13.61, for a total transaction of $125,212,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 2.70% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. raised its position in shares of Presidio by 0.7% during the second quarter. Sei Investments Co. now owns 34,369 shares of the company’s stock valued at $492,000 after buying an additional 247 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Presidio by 5.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 66,453 shares of the company’s stock worth $941,000 after purchasing an additional 3,325 shares during the last quarter. Advisor Group Inc. bought a new stake in Presidio in the second quarter worth $103,000. Cubist Systematic Strategies LLC increased its position in Presidio by 802.7% in 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. Finally, Nationwide Fund Advisors bought a new stake in Presidio in the second quarter worth $153,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.
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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