Envestnet Asset Management Inc. Boosts Stock Holdings in PagerDuty (NYSE:PD)

Key Points

• Envestnet Asset Management Inc. increased its stake in PagerDuty by 18.5%, owning 158,541 shares valued at approximately $2.9 million as of the end of Q1.
• PagerDuty has seen mixed analyst ratings, with target prices ranging from $18.00 to $23.00, and an average rating of "Hold" with a target price of $19.50.
• The company reported a Q1 earnings per share of $0.24, exceeding analyst expectations, and its quarterly revenue increased by 7.8% year-over-year to $119.81 million.

Envestnet Asset Management Inc. boosted its stake in shares of PagerDuty (NYSE:PD - Free Report) by 18.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,541 shares of the company's stock after acquiring an additional 24,777 shares during the period. Envestnet Asset Management Inc. owned 0.17% of PagerDuty worth $2,897,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PD. KBC Group NV bought a new stake in PagerDuty during the 1st quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PagerDuty in the 4th quarter worth approximately $130,000. Teacher Retirement System of Texas purchased a new position in shares of PagerDuty in the 1st quarter worth approximately $229,000. Pictet Asset Management Holding SA grew its position in PagerDuty by 35.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company's stock worth $249,000 after purchasing an additional 3,533 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PagerDuty during the 4th quarter worth approximately $263,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. TD Securities reduced their price objective 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. Truist Financial reduced their price objective on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, May 30th. Royal Bank Of Canada dropped their target price on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Friday, May 30th. JPMorgan Chase & Co. dropped their target price on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. Finally, Canaccord Genuity Group dropped their price objective on shares of PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a report on Monday, June 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.50.

PagerDuty Price Performance

Shares of NYSE PD opened at $15.76 on Monday. PagerDuty has a 1-year low of $13.69 and a 1-year high of $22.02. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.02 and a quick ratio of 2.02. The business's fifty day moving average price is $15.23 and its two-hundred day moving average price is $16.63. The firm has a market capitalization of $1.44 billion, a PE ratio of -39.39, a P/E/G ratio of 9.43 and a beta of 0.89.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. PagerDuty had a negative return on equity of 8.73% and a negative net margin of 7.75%. The company had revenue of $119.81 million for the quarter, compared to analyst estimates of $118.98 million. During the same period last year, the company earned $0.17 earnings per share. The company's quarterly revenue was up 7.8% compared to the same quarter last year. On average, research analysts expect that PagerDuty will post -0.27 EPS for the current year.

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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