Bank of New York Mellon Corp Purchases 251,651 Shares of PagerDuty $PD

Key Points

• Bank of New York Mellon increased its PagerDuty stake by 44.5% in the first quarter, acquiring 251,651 shares for a total holding of 816,688 shares. Institutional investors collectively own 97.26% of PagerDuty.
• PagerDuty reported quarterly EPS of $0.32, exceeding the $0.24 consensus estimate, while revenue rose 1.0% year over year to $120.97 million. The company also authorized a $100 million share buyback, representing up to 16.4% of outstanding shares.
• Analyst sentiment remains mixed, with PagerDuty carrying a consensus “Hold” rating and an average price target of $11.50. Shares opened at $11.20, after trading between $5.70 and $17.29 over the past year.

Bank of New York Mellon Corp grew its holdings in PagerDuty (NYSE:PD - Free Report) by 44.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 816,688 shares of the company's stock after purchasing an additional 251,651 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.96% of PagerDuty worth $5,072,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Royal Bank of Canada lifted its position in PagerDuty by 60.8% during the first quarter. Royal Bank of Canada now owns 96,575 shares of the company's stock valued at $1,764,000 after acquiring an additional 36,517 shares during the last quarter. AQR Capital Management LLC increased its position in shares of PagerDuty by 110.6% during the first quarter. AQR Capital Management LLC now owns 147,127 shares of the company's stock worth $2,679,000 after purchasing an additional 77,251 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PagerDuty by 1.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company's stock worth $943,000 after purchasing an additional 671 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of PagerDuty by 55.4% during the 1st quarter. Millennium Management LLC now owns 1,005,111 shares of the company's stock valued at $18,363,000 after purchasing an additional 358,347 shares during the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of PagerDuty during the 1st quarter valued at $556,000. Institutional investors own 97.26% of the company's stock.

PagerDuty Stock Down 0.8%

PD opened at $11.20 on Thursday. PagerDuty has a twelve month low of $5.70 and a twelve month high of $17.29. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.83. The company has a 50-day moving average price of $9.66 and a 200 day moving average price of $8.21. The company has a market cap of $863.70 million, a PE ratio of 5.49, a price-to-earnings-growth ratio of 2.90 and a beta of 0.93.

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

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

Analysts Set New Price Targets

PD has been the subject of several research analyst reports. Morgan Stanley lowered shares of PagerDuty from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $10.00 to $9.00 in a research report on Tuesday, July 21st. Royal Bank Of Canada lifted their price objective on shares of PagerDuty from $8.00 to $9.00 and gave the stock a "sector perform" rating in a research note on Friday, May 29th. Wall Street Zen downgraded PagerDuty from a "buy" rating to a "hold" rating in a research report on Saturday, July 25th. Weiss Ratings raised PagerDuty from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, July 13th. Finally, Truist Financial boosted their price target on PagerDuty from $9.00 to $11.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, PagerDuty presently has a consensus rating of "Hold" and an average price target of $11.50.

PagerDuty Company 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.

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