Bank of New York Mellon Corp Grows Stake in PagerDuty (NYSE:PD)

Bank of New York Mellon Corp lifted its holdings in shares of PagerDuty (NYSE:PD - Free Report) by 11.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,010,175 shares of the company's stock after buying an additional 104,838 shares during the period. Bank of New York Mellon Corp owned about 1.11% of PagerDuty worth $18,456,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PD. KBC Group NV acquired a new stake in PagerDuty in the first quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PagerDuty in the 4th quarter valued at about $130,000. Vinva Investment Management Ltd acquired a new stake in shares of PagerDuty in the fourth quarter valued at approximately $139,000. PNC Financial Services Group Inc. lifted its position in shares of PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after buying an additional 1,965 shares during the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of PagerDuty in the first quarter valued at approximately $229,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Trading Down 0.2%

NYSE PD traded down $0.03 on Friday, hitting $14.62. The company's stock had a trading volume of 937,817 shares, compared to its average volume of 1,135,016. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 2.70. PagerDuty has a 1-year low of $13.70 and a 1-year high of $22.02. The company's 50-day moving average is $15.42 and its 200 day moving average is $16.75. The firm has a market cap of $1.33 billion, a PE ratio of -36.55, a PEG ratio of 8.77 and a beta of 0.89.

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

Analyst Ratings Changes

PD has been the subject of a number of research reports. Canaccord Genuity Group cut their target price on shares of PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a research note on Monday, June 2nd. JPMorgan Chase & Co. dropped their price target on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. Royal Bank Of Canada dropped their price target on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, May 30th. Morgan Stanley dropped 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, Truist Financial dropped their target price on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock 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.