Mackenzie Financial Corp Increases Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Mackenzie Financial Corp boosted its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 516.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 111,356 shares of the company's stock after purchasing an additional 93,294 shares during the quarter. Mackenzie Financial Corp owned about 0.12% of PagerDuty worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PD. Venturi Wealth Management LLC acquired a new stake in shares of PagerDuty during the 4th quarter worth about $43,000. Picton Mahoney Asset Management purchased a new position in shares of PagerDuty during the fourth quarter valued at approximately $58,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PagerDuty during the fourth quarter worth approximately $130,000. Vinva Investment Management Ltd purchased a new stake in PagerDuty in the 4th quarter worth approximately $139,000. Finally, PNC Financial Services Group Inc. grew its stake in PagerDuty by 24.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock worth $184,000 after acquiring an additional 1,965 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PD shares. Canaccord Genuity Group reduced their price target on PagerDuty from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Monday. The Goldman Sachs Group dropped their target price on PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Truist Financial decreased their price target on PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday. Royal Bank of Canada lowered their price target on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Friday. Finally, JPMorgan Chase & Co. cut their price objective on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, PagerDuty has a consensus rating of "Hold" and a consensus price target of $19.50.

PagerDuty Trading Up 0.3%

Shares of NYSE PD traded up $0.04 during midday trading on Monday, hitting $14.30. The stock had a trading volume of 1,748,278 shares, compared to its average volume of 1,086,106. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty, Inc. has a 1-year low of $13.94 and a 1-year high of $23.12. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -17.87 and a beta of 0.99. The company has a fifty day moving average price of $16.04 and a 200 day moving average price of $17.85.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $119.81 million for the quarter, compared to analyst estimates of $118.98 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. PagerDuty's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 earnings per share. On average, analysts predict that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty declared that its board has approved a stock repurchase plan on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.