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

Bank of New York Mellon Corp raised its stake in shares of PagerDuty (NYSE:PD - Free Report) by 11.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,010,175 shares of the company's stock after purchasing an additional 104,838 shares during the quarter. Bank of New York Mellon Corp owned about 1.11% of PagerDuty worth $18,456,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PagerDuty by 1.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company's stock worth $930,000 after buying an additional 586 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of PagerDuty by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock valued at $1,691,000 after acquiring an additional 674 shares during the last quarter. KBC Group NV acquired a new stake in shares of PagerDuty during the first quarter valued at about $33,000. PNC Financial Services Group Inc. boosted its stake 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 purchasing an additional 1,965 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of PagerDuty by 6.4% in the fourth quarter. MetLife Investment Management LLC now owns 55,243 shares of the company's stock valued at $1,009,000 after purchasing an additional 3,340 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PD. Royal Bank Of Canada reduced their price objective on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Morgan Stanley reduced their price target on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced their price target on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a research report on Friday, May 30th. TD Securities reduced their price target on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Finally, Canaccord Genuity Group reduced their price target on shares of PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.50.

PagerDuty Price Performance

Shares of NYSE:PD traded up $0.06 on Tuesday, reaching $14.68. 838,248 shares of the company were exchanged, compared to its average volume of 1,131,606. The company has a current ratio of 2.02, a quick 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 firm has a market cap of $1.34 billion, a price-to-earnings ratio of -36.71, a price-to-earnings-growth ratio of 8.77 and a beta of 0.89. The company has a 50-day moving average of $15.42 and a 200-day moving average of $16.73.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.24 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $118.98 million. During the same period in the prior year, the company posted $0.17 EPS. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts forecast that PagerDuty will post -0.27 earnings per share for the current fiscal year.

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.