Federated Hermes Inc. Invests $314,000 in PagerDuty (NYSE:PD)

Key Points

• Federated Hermes Inc. purchased 17,191 shares of PagerDuty (NYSE:PD) valued at approximately $314,000 as part of its recent investment activities in the first quarter.
• PagerDuty reported a quarterly earnings per share of $0.24, surpassing analysts' estimates of $0.19, with revenues of $119.81 million for the same period.
• Despite positive earnings, PagerDuty's stock recently experienced a 0.9% decline, with a market cap of $1.41 billion and analysts issuing varied price targets ranging from $17.00 to $26.00.

Federated Hermes Inc. bought a new stake in shares of PagerDuty (NYSE:PD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 17,191 shares of the company's stock, valued at approximately $314,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PD. ARK Investment Management LLC grew its stake in shares of PagerDuty by 1.9% in the 1st quarter. ARK Investment Management LLC now owns 9,170,848 shares of the company's stock valued at $167,551,000 after buying an additional 174,501 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of PagerDuty by 2.1% in the 4th quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company's stock valued at $55,817,000 after buying an additional 61,456 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of PagerDuty by 11.6% in the 1st quarter. Bank of New York Mellon Corp now owns 1,010,175 shares of the company's stock valued at $18,456,000 after buying an additional 104,838 shares in the last quarter. Barclays PLC grew its stake in shares of PagerDuty by 2.0% in the 4th quarter. Barclays PLC now owns 918,762 shares of the company's stock valued at $16,777,000 after buying an additional 17,642 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of PagerDuty by 4.0% in the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after buying an additional 35,026 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PD shares. TD Securities lowered their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Canaccord Genuity Group reduced their target price on PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a report on Monday, June 2nd. JPMorgan Chase & Co. reduced their target price on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. Morgan Stanley reduced their target price on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank Of Canada reduced their target price on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PagerDuty has a consensus rating of "Hold" and a consensus price target of $19.75.

PagerDuty Stock Performance

Shares of PD traded down $0.63 on Thursday, reaching $15.44. 2,523,536 shares of the stock traded hands, compared to its average volume of 1,407,353. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -38.59, a P/E/G ratio of 9.24 and a beta of 0.89. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.02 and a quick ratio of 2.02. PagerDuty has a 12 month low of $13.69 and a 12 month high of $21.98. The stock's 50-day moving average price is $15.30 and its 200-day moving average price is $16.43.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. PagerDuty had a negative return on equity of 8.73% and a negative net margin of 7.75%. The business had revenue of $119.81 million for the quarter, compared to analysts' expectations of $118.98 million. During the same period in the previous year, the business posted $0.17 earnings per share. PagerDuty's quarterly revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty Profile

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.