Amova Asset Management Americas Inc. Sells 179,990 Shares of PagerDuty $PD

Key Points

• Amova Asset Management Americas cut its PagerDuty stake by 6.9% in the fourth quarter, selling 179,990 shares and ending with 2.42 million shares valued at about $31.7 million.
• PagerDuty recently beat earnings expectations, reporting $0.32 EPS versus the $0.24 estimate, while revenue came in slightly above forecasts at $120.97 million.
• The company’s board approved a $100 million share buyback, and analysts currently have a consensus Hold rating with an average target price of $11.25.

Amova Asset Management Americas Inc. lowered its position in PagerDuty (NYSE:PD - Free Report) by 6.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,422,159 shares of the company's stock after selling 179,990 shares during the period. Amova Asset Management Americas Inc. owned 2.64% of PagerDuty worth $31,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its holdings in PagerDuty by 2.6% in the third quarter. Arizona State Retirement System now owns 25,911 shares of the company's stock worth $428,000 after acquiring an additional 658 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PagerDuty by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company's stock valued at $943,000 after purchasing an additional 671 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of PagerDuty by 1.4% in the second quarter. California State Teachers Retirement System now owns 81,474 shares of the company's stock valued at $1,245,000 after purchasing an additional 1,129 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of PagerDuty by 252.0% in the third quarter. EverSource Wealth Advisors LLC now owns 1,605 shares of the company's stock valued at $27,000 after purchasing an additional 1,149 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of PagerDuty by 11.8% in the fourth quarter. ProShare Advisors LLC now owns 16,324 shares of the company's stock valued at $214,000 after purchasing an additional 1,720 shares in the last quarter. Institutional investors own 97.26% of the company's stock.

PagerDuty Price Performance

Shares of NYSE PD opened at $8.73 on Wednesday. The stock has a market cap of $672.87 million, a PE ratio of 4.28, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94. PagerDuty has a fifty-two week low of $5.70 and a fifty-two week high of $18.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a fifty day moving average of $7.14 and a 200-day moving average of $9.10.

PagerDuty (NYSE:PD - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.08. The company had revenue of $120.97 million during the quarter, compared to analysts' expectations of $119.52 million. PagerDuty had a return on equity of 18.20% and a net margin of 38.60%.The firm's quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 earnings per share. PagerDuty has set its Q2 2027 guidance at 0.290-0.310 EPS. Equities research analysts anticipate that PagerDuty will post 0.58 earnings per share for the current year.

PagerDuty declared that its board has approved a stock buyback program on Thursday, May 28th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to purchase up to 16.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. TD Cowen dropped their target price on PagerDuty from $20.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, March 13th. Canaccord Genuity Group increased their price target on PagerDuty from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Wall Street Zen downgraded PagerDuty from a "buy" rating to a "hold" rating in a research report on Monday, May 25th. Royal Bank Of Canada increased their price target on PagerDuty from $8.00 to $9.00 and gave the company a "sector perform" rating in a research report on Friday, May 29th. Finally, Truist Financial decreased their price target on PagerDuty from $12.00 to $9.00 and set a "buy" rating for the company in a research report on Friday, March 13th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, PagerDuty has a consensus rating of "Hold" and a consensus target price of $11.25.

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.