Man Group plc Makes New Investment in PagerDuty, Inc. (NYSE:PD)

Man Group plc purchased a new position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,248 shares of the company's stock, valued at approximately $388,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Janus Henderson Group PLC increased its position in shares of PagerDuty by 2.1% during the 4th quarter. Janus Henderson Group PLC now owns 3,056,795 shares of the company's stock valued at $55,817,000 after purchasing an additional 61,456 shares during the last quarter. Barclays PLC boosted its stake in PagerDuty by 2.0% in the 4th quarter. Barclays PLC now owns 918,762 shares of the company's stock worth $16,777,000 after purchasing an additional 17,642 shares during the period. Northern Trust Corp boosted its stake in PagerDuty by 4.0% in the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock worth $16,563,000 after purchasing an additional 35,026 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of PagerDuty by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock worth $16,531,000 after purchasing an additional 100,207 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of PagerDuty by 7.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company's stock worth $15,051,000 after purchasing an additional 55,233 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Stock Performance

Shares of NYSE PD traded down $1.75 during trading on Friday, hitting $14.35. The company had a trading volume of 4,343,663 shares, compared to its average volume of 1,083,463. The stock has a 50 day simple moving average of $16.04 and a 200 day simple moving average of $17.86. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. PagerDuty, Inc. has a 12 month low of $13.94 and a 12 month high of $23.12. The firm has a market capitalization of $1.31 billion, a P/E ratio of -17.94 and a beta of 0.99.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $119.81 million for 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 for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.17 earnings per share. As a group, analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty announced that its board has initiated a share buyback program on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PD shares. TD Securities lowered their price objective on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Morgan Stanley lowered their price objective on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group lowered their price objective on PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Truist Financial lowered their price objective on PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Friday. Finally, Royal Bank of Canada lowered their price objective on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $19.67.

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.