Presidio Inc (PSDO) Major Shareholder Sells $45,720,000.00 in Stock

Presidio Inc (NASDAQ:PSDO) major shareholder Apollo Management Holdings Gp, sold 3,000,000 shares of the business’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $15.24, for a total value of $45,720,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Apollo Management Holdings Gp, also recently made the following trade(s):

  • On Wednesday, September 12th, Apollo Management Holdings Gp, sold 10,750,000 shares of Presidio stock. The stock was sold at an average price of $14.75, for a total value of $158,562,500.00.

Shares of PSDO opened at $16.00 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.06 and a quick ratio of 1.03. The company has a market capitalization of $1.28 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08. Presidio Inc has a 52-week low of $11.97 and a 52-week high of $19.74.

Presidio (NASDAQ:PSDO) last announced its quarterly earnings results on Thursday, September 6th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.17. The firm had revenue of $766.30 million during the quarter, compared to the consensus estimate of $756.81 million. Presidio had a return on equity of 6.33% and a net margin of 4.70%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. sell-side analysts predict that Presidio Inc will post 0.69 EPS for the current fiscal year.

The firm also recently declared an annual dividend, which will be paid on Friday, October 5th. Investors of record on Wednesday, September 26th will be issued a $0.04 dividend. This represents a yield of 0.24%. The ex-dividend date is Tuesday, September 25th.

A number of equities analysts recently issued reports on PSDO shares. Goldman Sachs Group started coverage on Presidio in a report on Monday, August 27th. They issued a “neutral” rating and a $15.00 price target for the company. Zacks Investment Research raised Presidio from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. BidaskClub raised Presidio from a “sell” rating to a “hold” rating in a report on Saturday, August 11th. Finally, ValuEngine raised Presidio from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $17.71.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC acquired a new stake in shares of Presidio in the second quarter valued at approximately $144,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Presidio by 49.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 13,131 shares of the company’s stock valued at $172,000 after acquiring an additional 4,324 shares during the period. Engineers Gate Manager LP acquired a new stake in shares of Presidio in the second quarter valued at approximately $175,000. Alambic Investment Management L.P. acquired a new stake in shares of Presidio in the second quarter valued at approximately $186,000. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Presidio in the second quarter valued at approximately $197,000.

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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