Man Group plc Takes $388,000 Position in PagerDuty, Inc. (NYSE:PD)

Man Group plc bought a new stake in PagerDuty, Inc. (NYSE:PD - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,248 shares of the company's stock, valued at approximately $388,000.

A number of other hedge funds also recently modified their holdings of PD. Northern Trust Corp raised its holdings in shares of PagerDuty by 4.0% during the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company's stock worth $16,563,000 after acquiring an additional 35,026 shares in the last quarter. Bank of New York Mellon Corp raised 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 acquiring an additional 100,207 shares in the last quarter. Barclays PLC raised its holdings in shares of PagerDuty by 24.2% during the third quarter. Barclays PLC now owns 901,120 shares of the company's stock worth $16,716,000 after acquiring an additional 175,733 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of PagerDuty during the fourth quarter worth $352,000. Finally, Scalar Gauge Management LLC purchased a new stake in shares of PagerDuty during the fourth quarter worth $5,993,000. Hedge funds and other institutional investors own 97.26% of the company's stock.

PagerDuty Stock Performance

PD stock traded down $1.73 during trading on Friday, reaching $14.38. 3,004,468 shares of the stock were exchanged, compared to its average volume of 1,094,789. PagerDuty, Inc. has a twelve month low of $13.98 and a twelve month high of $23.12. The company has a market capitalization of $1.31 billion, a P/E ratio of -18.02 and a beta of 0.99. The stock has a 50 day simple moving average of $16.14 and a 200-day simple moving average of $17.92. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. The company 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 company's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 earnings per share. As a group, sell-side analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

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

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Canaccord Genuity Group cut their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a report on Friday, March 14th. Morgan Stanley lowered their target price 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. lowered their target price on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday. TD Securities lowered their target price on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada lowered their target price on shares of PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $19.67.

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.