Sumitomo Mitsui Trust Group Inc. decreased its position in PagerDuty (NYSE:PD - Free Report) by 7.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,108,241 shares of the company's stock after selling 256,324 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 3.41% of PagerDuty worth $56,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of PD. Janus Henderson Group PLC raised 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 buying an additional 61,456 shares in the last quarter. Barclays PLC raised its holdings in PagerDuty by 2.0% during the 4th quarter. Barclays PLC now owns 918,762 shares of the company's stock valued at $16,777,000 after buying an additional 17,642 shares during the period. Northern Trust Corp raised its holdings in PagerDuty by 4.0% during the 4th quarter. Northern Trust Corp now owns 907,074 shares of the company's stock valued at $16,563,000 after buying an additional 35,026 shares during the period. Bank of New York Mellon Corp lifted its position in PagerDuty by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock worth $16,531,000 after buying an additional 100,207 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its position in PagerDuty by 0.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 812,609 shares of the company's stock valued at $14,838,000 after acquiring an additional 4,244 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.
PagerDuty Price Performance
PD traded up $0.12 on Wednesday, reaching $15.72. 1,809,922 shares of the company's stock were exchanged, compared to its average volume of 1,125,495. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.02 and a quick ratio of 2.02. The stock's fifty day moving average price is $15.45 and its 200-day moving average price is $17.03. PagerDuty has a twelve month low of $13.70 and a twelve month high of $22.51. The stock has a market cap of $1.43 billion, a PE ratio of -39.30, a P/E/G ratio of 9.00 and a beta of 0.89.
PagerDuty (NYSE:PD - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.05. PagerDuty had a negative return on equity of 8.73% and a negative net margin of 7.75%. The company had revenue of $119.81 million for the quarter, compared to the consensus estimate of $118.98 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. The company's revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts expect that PagerDuty will post -0.27 EPS for the current year.
PagerDuty announced that its Board of Directors has initiated a share buyback program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on PD shares. The Goldman Sachs Group reduced their price objective on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. Morgan Stanley decreased their price objective on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Truist Financial reduced their target price on shares of PagerDuty from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, May 30th. Canaccord Genuity Group decreased their target price on PagerDuty from $23.00 to $21.00 and set a "buy" rating for the company in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada dropped their price target on PagerDuty from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, PagerDuty presently has a consensus rating of "Hold" and a consensus target price of $19.50.
Check Out Our Latest Research Report on PD
PagerDuty Profile
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Free Report)
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.
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