Ameriprise Financial Inc. Trims Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Ameriprise Financial Inc. trimmed its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 83.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,764 shares of the company's stock after selling 78,075 shares during the period. Ameriprise Financial Inc.'s holdings in PagerDuty were worth $288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in PagerDuty by 4.0% in the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock worth $16,563,000 after buying an additional 35,026 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of PagerDuty by 12.4% during the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock valued at $16,531,000 after purchasing an additional 100,207 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of PagerDuty during the 4th quarter valued at approximately $352,000. Scalar Gauge Management LLC bought a new position in PagerDuty in the 4th quarter valued at $5,993,000. Finally, PNC Financial Services Group Inc. grew its position in shares of PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock worth $184,000 after buying an additional 1,965 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Stock Performance

Shares of PagerDuty stock opened at $15.40 on Friday. PagerDuty, Inc. has a 52 week low of $13.94 and a 52 week high of $23.12. The business's fifty day simple moving average is $15.73 and its 200-day simple moving average is $17.76. The firm has a market cap of $1.40 billion, a PE ratio of -19.24 and a beta of 0.99. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $119.81 million for the quarter, compared to analyst estimates of $118.98 million. During the same quarter in the prior year, the company earned $0.17 EPS. PagerDuty's revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty announced that its Board of Directors has authorized a stock buyback program on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PD shares. Morgan Stanley dropped their price objective on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial reduced their price target on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, May 30th. The Goldman Sachs Group reduced their price target on PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Royal Bank of Canada dropped their price objective on PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Finally, Canaccord Genuity Group lowered their price target on PagerDuty from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.50.

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.

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