Harbor Capital Advisors Inc. Invests $362,000 in PagerDuty (NYSE:PD)

Harbor Capital Advisors Inc. purchased a new stake in PagerDuty (NYSE:PD - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,806 shares of the company's stock, valued at approximately $362,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Northern Trust Corp increased its position in PagerDuty by 4.0% in the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after acquiring an additional 35,026 shares during the period. Bank of New York Mellon Corp lifted its position in shares of PagerDuty by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock valued at $16,531,000 after acquiring an additional 100,207 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of PagerDuty in the fourth quarter valued at approximately $352,000. Scalar Gauge Management LLC acquired a new position in PagerDuty in the 4th quarter valued at $5,993,000. Finally, Nuveen Asset Management LLC lifted its position in PagerDuty by 0.9% during the fourth quarter. Nuveen Asset Management LLC now owns 622,940 shares of the company's stock worth $11,375,000 after buying an additional 5,466 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Stock Performance

PD traded down $0.26 during trading on Wednesday, hitting $14.27. The stock had a trading volume of 1,476,079 shares, compared to its average volume of 1,104,409. 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 $13.94 and a 12 month high of $23.12. The company has a 50 day simple moving average of $15.57 and a 200-day simple moving average of $17.46. The firm has a market cap of $1.30 billion, a PE ratio of -35.70, a P/E/G ratio of 8.47 and a beta of 0.88.

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

PagerDuty declared that its Board of Directors has initiated a share buyback program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have commented on PD. Royal Bank Of Canada reduced their price objective on PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note 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 on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. dropped their target price on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research 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, The Goldman Sachs Group reduced their price target on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.