Envestnet Asset Management Inc. Purchases 24,777 Shares of 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 holdings in shares of PagerDuty (NYSE:PD - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 about 0.17% of PagerDuty worth $2,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV acquired a new stake in PagerDuty in the 1st quarter valued at $33,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PagerDuty during the 4th quarter valued at about $130,000. Teacher Retirement System of Texas acquired a new position in shares of PagerDuty during the 1st quarter valued at about $229,000. Pictet Asset Management Holding SA raised its holdings in PagerDuty by 35.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company's stock valued at $249,000 after buying an additional 3,533 shares during the period. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in PagerDuty in the 4th quarter valued at about $263,000. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Stock Down 0.7%

PD stock traded down $0.12 during midday trading on Thursday, hitting $16.20. 309,875 shares of the company's stock were exchanged, compared to its average volume of 1,335,298. 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 12-month low of $13.69 and a 12-month high of $21.98. The firm has a 50 day moving average price of $15.26 and a 200-day moving average price of $16.62. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of -40.41, a price-to-earnings-growth ratio of 9.84 and a beta of 0.89.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $118.98 million. During the same period in the previous year, the business earned $0.17 EPS. PagerDuty's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts anticipate that PagerDuty will post -0.27 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on PD. Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating in a research note on Monday. Morgan Stanley lowered their price target on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. JPMorgan Chase & Co. decreased their price objective on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. TD Securities decreased their price objective on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Finally, Truist Financial cut their price target on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PagerDuty presently has a consensus rating of "Hold" and a consensus price target of $19.75.

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.