790,552 Shares in PagerDuty $PD Acquired by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 790,552 PagerDuty shares worth approximately $7.6 million, giving it a 1.03% stake. Institutional investors collectively own 97.26% of the company.
• Analyst views remain mixed: PagerDuty has a consensus “Hold” rating and an average price target of $12.56, despite several firms raising their targets to between $10 and $15.
• PagerDuty modestly exceeded quarterly expectations with $0.32 in EPS and $124.44 million in revenue, while its board authorized a $100 million share repurchase program covering up to 16.4% of outstanding shares.

Bank of New York Mellon Corp acquired a new stake in PagerDuty (NYSE:PD - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 790,552 shares of the company's stock, valued at approximately $7,629,000. Bank of New York Mellon Corp owned approximately 1.03% of PagerDuty at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in PagerDuty by 60.8% during the 1st quarter. Royal Bank of Canada now owns 96,575 shares of the company's stock valued at $1,764,000 after acquiring an additional 36,517 shares during the period. AQR Capital Management LLC boosted its holdings in PagerDuty by 110.6% in the first quarter. AQR Capital Management LLC now owns 147,127 shares of the company's stock worth $2,679,000 after purchasing an additional 77,251 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in PagerDuty by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company's stock worth $943,000 after purchasing an additional 671 shares during the last quarter. Millennium Management LLC grew its position in PagerDuty by 55.4% in the 1st quarter. Millennium Management LLC now owns 1,005,111 shares of the company's stock worth $18,363,000 after purchasing an additional 358,347 shares during the period. Finally, Woodline Partners LP bought a new stake in PagerDuty in the 1st quarter worth approximately $556,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on PD. Royal Bank Of Canada increased their price target on PagerDuty from $9.00 to $12.00 and gave the company a "sector perform" rating in a report on Friday, August 14th. Morgan Stanley lifted their price objective on PagerDuty from $9.00 to $10.00 and gave the stock an "underweight" rating in a report on Friday, August 28th. Wall Street Zen cut PagerDuty from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Canaccord Genuity Group upped their price objective on PagerDuty from $10.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, August 28th. Finally, Truist Financial increased their target price on PagerDuty from $11.00 to $13.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, PagerDuty presently has a consensus rating of "Hold" and an average price target of $12.56.

PagerDuty Price Performance

NYSE PD opened at $14.08 on Friday. The business's fifty day moving average is $11.11 and its 200 day moving average is $8.64. PagerDuty has a fifty-two week low of $5.70 and a fifty-two week high of $17.29. The company has a debt-to-equity ratio of 1.71, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market capitalization of $1.11 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.32 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.01. PagerDuty had a return on equity of 18.52% and a net margin of 37.50%.The business had revenue of $124.44 million during the quarter, compared to analysts' expectations of $123.27 million. During the same quarter in the prior year, the business posted $0.30 earnings per share. The business's quarterly revenue was up .8% on a year-over-year basis. PagerDuty has set its FY 2027 guidance at 1.330-1.370 EPS and its Q3 2027 guidance at 0.340-0.360 EPS. Sell-side analysts predict that PagerDuty will post 0.69 earnings per share for the current year.

PagerDuty announced that its board has approved a share repurchase program on Thursday, May 28th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 16.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.

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