Connor Clark & Lunn Investment Management Ltd. Purchases 97,936 Shares of PagerDuty (NYSE:PD)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in PagerDuty by 16.9%, owning approximately 677,241 shares valued at $12.37 million.
• PagerDuty reported an earnings per share (EPS) of $0.24 for the latest quarter, beating analyst expectations of $0.19, while revenue rose by 7.8% year-over-year to $119.81 million.
• The company's market capitalization stands at $1.41 billion, with shares currently trading around $15.45, within a fifty-two week range of $13.69 to $21.98.

Connor Clark & Lunn Investment Management Ltd. raised its holdings in PagerDuty (NYSE:PD - Free Report) by 16.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 677,241 shares of the company's stock after acquiring an additional 97,936 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.74% of PagerDuty worth $12,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of PagerDuty by 4.0% in the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after purchasing an additional 35,026 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of PagerDuty in the first quarter valued at $229,000. Nuveen Asset Management LLC lifted its stake in shares of PagerDuty by 0.9% in the fourth quarter. Nuveen Asset Management LLC now owns 622,940 shares of the company's stock valued at $11,375,000 after buying an additional 5,466 shares in the last quarter. KBC Group NV purchased a new stake in shares of PagerDuty in the first quarter valued at about $33,000. Finally, Envestnet Asset Management Inc. increased its holdings in PagerDuty by 18.5% during the first quarter. Envestnet Asset Management Inc. now owns 158,541 shares of the company's stock worth $2,897,000 after buying an additional 24,777 shares during the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PD has been the subject of a number of research analyst reports. Truist Financial decreased their price objective on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating for the company in a report on Friday, May 30th. Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating in a research report on Monday, July 28th. TD Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 target price for the company in a research report on Monday, July 28th. JPMorgan Chase & Co. lowered their price objective on shares of PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a report on Friday, May 30th. Finally, TD Securities lowered their price target on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a report on Wednesday, May 21st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.75.

PagerDuty Stock Performance

PagerDuty stock traded down $0.60 during midday trading on Thursday, hitting $15.46. The stock had a trading volume of 3,921,349 shares, compared to its average volume of 1,412,991. The firm's fifty day moving average is $15.30 and its two-hundred day moving average is $16.43. The company has a market capitalization of $1.41 billion, a PE ratio of -38.66, a P/E/G ratio of 9.24 and a beta of 0.89. PagerDuty has a 52-week low of $13.69 and a 52-week high of $21.98. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.70.

PagerDuty (NYSE:PD - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. PagerDuty had a negative net margin of 7.75% and a negative return on equity of 8.73%. The business had revenue of $119.81 million during the quarter, compared to analyst estimates of $118.98 million. During the same period last year, the firm posted $0.17 EPS. The company's revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that PagerDuty will post -0.27 EPS for the current year.

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.