PagerDuty, Inc. (NYSE:PD) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) by 516.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,356 shares of the company's stock after buying an additional 93,294 shares during the quarter. Mackenzie Financial Corp owned about 0.12% of PagerDuty worth $2,033,000 at the end of the most recent quarter.

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

PagerDuty Price Performance

PD stock traded up $0.27 during midday trading on Wednesday, hitting $15.19. 1,505,327 shares of the stock were exchanged, compared to its average volume of 1,086,015. The stock's 50-day moving average price is $15.78 and its 200-day moving average price is $17.78. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -18.99 and a beta of 0.99. PagerDuty, Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $119.81 million during the quarter, compared to the consensus estimate of $118.98 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.17 EPS. Research analysts predict that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty announced that its Board of Directors has approved a share repurchase plan on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PD. Morgan Stanley cut their price objective on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. 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. JPMorgan Chase & Co. lowered their price objective on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a report on Friday, May 30th. TD Securities cut their target price on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Finally, Canaccord Genuity Group reduced their price target on PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned 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 $19.50.

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.