Presidio (PSDO) Coverage Initiated at SunTrust Banks

SunTrust Banks began coverage on shares of Presidio (NASDAQ:PSDO) in a report published on Tuesday, MarketBeat reports. The brokerage issued a buy rating and a $17.00 price objective on the stock.

PSDO has been the subject of a number of other research reports. Zacks Investment Research raised Presidio from a sell rating to a hold rating in a research report on Wednesday, November 28th. ValuEngine raised Presidio from a hold rating to a buy rating in a research report on Thursday, August 23rd. BidaskClub raised Presidio from a sell rating to a hold rating in a research report on Saturday, August 11th. Finally, Goldman Sachs Group assumed coverage on Presidio in a research report on Monday, August 27th. They set a neutral rating and a $15.00 price target for the company. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Presidio currently has a consensus rating of Hold and an average price target of $17.71.

PSDO opened at $13.78 on Tuesday. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 3.11 and a beta of 1.30. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.05 and a quick ratio of 1.02. Presidio has a one year low of $11.97 and a one year high of $19.74.

Presidio (NASDAQ:PSDO) last released its quarterly earnings results on Wednesday, November 7th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). The business had revenue of $750.00 million for the quarter, compared to the consensus estimate of $747.79 million. Presidio had a net margin of 4.54% and a return on equity of 5.63%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. Equities research analysts forecast that Presidio will post 0.56 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Wednesday, December 26th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Monday, December 24th. Presidio’s dividend payout ratio is currently 11.51%.

In other news, major shareholder Apollo Management Holdings Gp, sold 3,000,000 shares of the stock in a transaction that occurred on 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 Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Lerner bought 10,000 shares of the firm’s stock in a transaction dated Thursday, November 15th. The stock was purchased at an average cost of $13.22 per share, with a total value of $132,200.00. Following the transaction, the director now directly owns 20,000 shares in the company, valued at approximately $264,400. The disclosure for this purchase can be found here. 2.00% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. Rhumbline Advisers raised its position in shares of Presidio by 14.1% in the 2nd quarter. Rhumbline Advisers now owns 31,303 shares of the company’s stock worth $410,000 after acquiring an additional 3,880 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Presidio by 7.0% in the 2nd quarter. California Public Employees Retirement System now owns 62,015 shares of the company’s stock worth $812,000 after acquiring an additional 4,080 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Presidio by 49.1% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 13,131 shares of the company’s stock worth $172,000 after acquiring an additional 4,324 shares in the last quarter. Sei Investments Co. raised its position in shares of Presidio by 9.1% in the 2nd quarter. Sei Investments Co. now owns 64,214 shares of the company’s stock worth $841,000 after acquiring an additional 5,331 shares in the last quarter. Finally, IndexIQ Advisors LLC raised its position in shares of Presidio by 3.9% in the 3rd quarter. IndexIQ Advisors LLC now owns 145,348 shares of the company’s stock worth $2,217,000 after acquiring an additional 5,489 shares in the last quarter. 98.15% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Are analyst ratings accurate?

Analyst Recommendations for Presidio (NASDAQ:PSDO)

Receive News & Ratings for Presidio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Presidio and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply