Hsbc Holdings PLC Makes New $1.21 Million Investment in PagerDuty $PD

Key Points

• HSBC Holdings acquired 126,288 PagerDuty shares worth approximately $1.21 million during the second quarter, giving it a 0.16% stake. Institutional investors collectively own 97.26% of the company.
• PagerDuty reported quarterly EPS of $0.32, slightly above the $0.31 consensus estimate, on revenue of $124.44 million. The company also authorized a $100 million share-repurchase program covering up to 16.4% of outstanding shares.
• PagerDuty shares opened at $14.09, up 1.9%, while analysts maintained a mixed outlook: the average rating is “Hold” with an average price target of $12.94.

Hsbc Holdings PLC acquired a new position in shares of PagerDuty (NYSE:PD - Free Report) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 126,288 shares of the company's stock, valued at approximately $1,205,000. Hsbc Holdings PLC owned 0.16% of PagerDuty at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in PagerDuty by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 13,066,929 shares of the company's stock worth $171,307,000 after buying an additional 472,975 shares in the last quarter. Geode Capital Management LLC increased its holdings in PagerDuty by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 2,113,117 shares of the company's stock valued at $27,708,000 after buying an additional 58,881 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in PagerDuty by 333.2% in the third quarter. Ameriprise Financial Inc. now owns 1,450,429 shares of the company's stock valued at $23,961,000 after buying an additional 1,115,577 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in PagerDuty by 0.3% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,092,963 shares of the company's stock valued at $14,329,000 after buying an additional 3,276 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of PagerDuty by 55.4% in the first quarter. Millennium Management LLC now owns 1,005,111 shares of the company's stock worth $18,363,000 after acquiring an additional 358,347 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Stock Up 1.9%

Shares of PD opened at $14.09 on Tuesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 2.02 and a current ratio of 2.02. PagerDuty has a one year low of $5.70 and a one year high of $17.29. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 7.04, a PEG ratio of 3.55 and a beta of 0.93. The stock has a 50 day moving average price of $10.80 and a 200 day moving average price of $8.49.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. The firm had revenue of $124.44 million during the quarter, compared to the consensus estimate of $123.27 million. PagerDuty had a return on equity of 18.52% and a net margin of 37.50%.The firm's revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.30 EPS. PagerDuty has set its FY 2027 guidance at 1.330-1.370 EPS and its Q3 2027 guidance at 0.340-0.360 EPS. Equities research analysts forecast that PagerDuty will post 0.58 earnings per share for the current fiscal year.

PagerDuty declared that its board has authorized a stock buyback program on Thursday, May 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 16.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Morgan Stanley raised their target price on PagerDuty from $9.00 to $10.00 and gave the company an "underweight" rating in a research report on Friday. Truist Financial lifted their price target on PagerDuty from $11.00 to $13.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. TD Cowen reiterated a "buy" rating on shares of PagerDuty in a research report on Wednesday, August 26th. Weiss Ratings upgraded PagerDuty from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Friday, August 21st. Finally, UBS Group set a $13.50 price objective on PagerDuty in a report on Wednesday, August 26th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $12.94.

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. 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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