Allspring Global Investments Holdings LLC Decreases Holdings in PagerDuty (NYSE:PD)

Allspring Global Investments Holdings LLC reduced its holdings in shares of PagerDuty (NYSE:PD - Free Report) by 18.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 670,818 shares of the company's stock after selling 153,432 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.74% of PagerDuty worth $12,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Northern Trust Corp lifted its position in PagerDuty by 4.0% during the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after purchasing an additional 35,026 shares during the period. Bank of New York Mellon Corp raised its position in shares of PagerDuty by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock worth $16,531,000 after acquiring an additional 100,207 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of PagerDuty during the 4th quarter valued at about $352,000. Scalar Gauge Management LLC purchased a new position in shares of PagerDuty in the 4th quarter valued at about $5,993,000. Finally, Nuveen Asset Management LLC raised its holdings in PagerDuty by 0.9% in the 4th quarter. Nuveen Asset Management LLC now owns 622,940 shares of the company's stock worth $11,375,000 after purchasing an additional 5,466 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

PagerDuty Trading Up 1.6%

Shares of PD opened at $15.97 on Friday. The stock has a fifty day moving average price of $15.47 and a two-hundred day moving average price of $16.99. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.02 and a current ratio of 2.02. PagerDuty has a 52-week low of $13.70 and a 52-week high of $22.19. The company has a market cap of $1.45 billion, a price-to-earnings ratio of -39.93, a PEG ratio of 9.07 and a beta of 0.89.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $119.81 million during the quarter, compared to the consensus estimate of $118.98 million. During the same quarter in the previous year, the company posted $0.17 EPS. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. Analysts predict that PagerDuty will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its board has initiated a share repurchase plan on Thursday, March 13th that allows the company to repurchase $150.00 million in shares. This repurchase authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley reduced their price target on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Royal Bank Of Canada reduced their price target on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Friday, May 30th. Canaccord Genuity Group cut their target price on PagerDuty from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Monday, June 2nd. 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 report on Wednesday, May 21st. Finally, The Goldman Sachs Group dropped their price objective on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, PagerDuty presently has a consensus rating of "Hold" and a consensus target price of $19.50.

About PagerDuty

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.

Want to see what other hedge funds are holding PD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PagerDuty (NYSE:PD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.