Presidio, Inc. (PSDO) Rating Lowered to Sell at Zacks Investment Research
Presidio, Inc. (NASDAQ:PSDO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.
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. “
Several other research analysts also recently commented on PSDO. Royal Bank Of Canada reissued 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. Evercore ISI reissued a “buy” rating and issued a $19.00 price objective on shares of Presidio in a research note on Friday, September 22nd. Finally, Barclays PLC reduced their price objective on Presidio from $17.00 to $16.00 and set an “overweight” rating for the company in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $17.71.
Presidio (NASDAQ:PSDO) opened at 15.00 on Tuesday. The stock’s market capitalization is $1.37 billion. Presidio has a 12-month low of $12.75 and a 12-month high of $16.38. The company has a 50 day moving average of $14.25 and a 200-day moving average of $14.25.
Presidio (NASDAQ:PSDO) last posted its quarterly earnings data on Thursday, September 21st. The company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ 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. Presidio’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities research analysts forecast that Presidio will post $1.26 earnings per share for the current year.
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Several institutional investors and hedge funds have recently modified their holdings of PSDO. Apollo Management Holdings L.P. acquired a new stake in shares of Presidio in the 1st quarter worth $1,037,160,000. FMR LLC acquired a new stake in shares of Presidio in the 1st quarter worth $111,604,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Presidio in the 1st quarter worth $27,577,000. Vanguard Group Inc. acquired a new stake in shares of Presidio in the 2nd quarter worth $18,605,000. Finally, Sandhill Capital Partners LLC acquired a new stake in shares of Presidio in the 2nd quarter worth $18,536,000. 96.82% of the stock is owned by institutional investors and hedge funds.
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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