Mackenzie Financial Corp Purchases 22,994 Shares of PagerDuty (NYSE:PD)

Key Points

• Mackenzie Financial Corp increased its holdings in PagerDuty shares by 20.6% in Q1, owning 134,350 shares valued at approximately $2.45 million.
• PagerDuty reported $0.24 earnings per share (EPS), surpassing expectations of $0.19, with revenues of $119.81 million for the quarter.
• Analysts have mixed ratings on PagerDuty, with a consensus rating of "Hold" and target price of $19.75, reflecting cautious optimism about the stock's future performance.

Mackenzie Financial Corp raised its stake in shares of PagerDuty (NYSE:PD - Free Report) by 20.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 134,350 shares of the company's stock after acquiring an additional 22,994 shares during the period. Mackenzie Financial Corp owned approximately 0.15% of PagerDuty worth $2,455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PD. KLP Kapitalforvaltning AS acquired a new stake in PagerDuty during the 4th quarter valued at $352,000. Norges Bank purchased a new position in shares of PagerDuty in the 4th quarter worth $4,914,000. Pictet Asset Management Holding SA raised its position in shares of PagerDuty by 35.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company's stock worth $249,000 after buying an additional 3,533 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of PagerDuty in the 4th quarter worth $263,000. Finally, Alliancebernstein L.P. raised its position in shares of PagerDuty by 0.7% in the 4th quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock worth $1,691,000 after buying an additional 674 shares during the period. 97.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PD has been the topic of several research reports. Cowen raised PagerDuty from a "hold" rating to a "buy" rating in a research report on Monday, July 28th. TD Securities decreased their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. JPMorgan Chase & Co. decreased their price target on PagerDuty from $21.00 to $18.00 and set an "underweight" rating for the company in a research note on Friday, May 30th. Royal Bank Of Canada decreased their target price on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Friday, May 30th. Finally, TD Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 price objective for the company in a research report on Monday, July 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $19.75.

PagerDuty Trading Up 2.9%

Shares of NYSE PD traded up $0.46 during midday trading on Wednesday, reaching $16.04. 664,816 shares of the stock were exchanged, compared to its average volume of 1,350,323. The company has a market capitalization of $1.46 billion, a price-to-earnings ratio of -40.10, a P/E/G ratio of 9.42 and a beta of 0.89. PagerDuty has a 12 month low of $13.69 and a 12 month high of $21.98. The business has a 50-day simple moving average of $15.23 and a two-hundred day simple moving average of $16.54. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.02 and a quick ratio of 2.02.

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, topping the consensus estimate of $0.19 by $0.05. The company had revenue of $119.81 million for the quarter, compared to analyst estimates of $118.98 million. PagerDuty had a negative net margin of 7.75% and a negative return on equity of 8.73%. PagerDuty's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 EPS. As a group, equities research analysts expect 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.