Cubist Systematic Strategies LLC boosted its holdings in PagerDuty, Inc. (NYSE:PD - Free Report) by 44.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 709,154 shares of the company's stock after buying an additional 218,674 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.79% of PagerDuty worth $12,949,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Alliancebernstein L.P. raised its holdings in PagerDuty by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock valued at $1,691,000 after buying an additional 674 shares during the last quarter. Franklin Resources Inc. grew its holdings in PagerDuty by 5.4% in the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock worth $614,000 after acquiring an additional 1,701 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after acquiring an additional 1,965 shares during the period. Handelsbanken Fonder AB raised its stake in shares of PagerDuty by 12.4% during the fourth quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company's stock valued at $347,000 after acquiring an additional 2,100 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new position in shares of PagerDuty during the fourth quarter valued at about $43,000. Institutional investors own 97.26% of the company's stock.
PagerDuty Price Performance
PD stock traded up $0.59 during midday trading on Monday, reaching $16.50. The stock had a trading volume of 385,691 shares, compared to its average volume of 1,081,594. PagerDuty, Inc. has a 52-week low of $14.30 and a 52-week high of $23.12. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The company's fifty day simple moving average is $16.55 and its 200 day simple moving average is $18.16. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -20.66 and a beta of 0.99.
PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same quarter in the prior year, the company earned $0.17 EPS. PagerDuty's revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts predict that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.
PagerDuty declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PD. Truist Financial cut their target price on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Royal Bank of Canada decreased their target price on PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Morgan Stanley lowered their target price on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group lowered their target price on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Bank of America cut PagerDuty from a "buy" rating to an "underperform" rating and decreased their price objective for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $20.55.
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PagerDuty Profile
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Free Report)
PagerDuty, Inc engages in the operation of a digital operations management platform in the United States and internationally. The company's digital operations management platform collects data and digital signals from virtually any software-enabled system or device and leverage machine learning to correlate, process, and predict opportunities and issues.
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