PagerDuty $PD Shares Purchased by KBC Group NV

Key Points

• KBC Group NV dramatically increased its PagerDuty stake in the first quarter, boosting holdings by 5,537.9% to 248,181 shares worth about $1.54 million.
• PagerDuty shares were up 5.2% in Friday trading, and the stock opened at $9.07, still well below its 12-month high of $18.00.
• The company reported better-than-expected quarterly earnings, with EPS of $0.32 versus estimates of $0.24, and it also authorized a $100 million share buyback.

KBC Group NV raised its stake in PagerDuty (NYSE:PD - Free Report) by 5,537.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 248,181 shares of the company's stock after purchasing an additional 243,779 shares during the quarter. KBC Group NV owned about 0.29% of PagerDuty worth $1,541,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of PagerDuty by 3.8% in the fourth quarter. Vanguard Group Inc. now owns 13,066,929 shares of the company's stock valued at $171,307,000 after buying an additional 472,975 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PagerDuty by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 2,113,117 shares of the company's stock valued at $27,708,000 after buying an additional 58,881 shares during the period. Ameriprise Financial Inc. lifted its position in PagerDuty by 333.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,450,429 shares of the company's stock worth $23,961,000 after acquiring an additional 1,115,577 shares in the last quarter. Loomis Sayles & Co. L P lifted its position in PagerDuty by 0.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,092,963 shares of the company's stock worth $14,329,000 after acquiring an additional 3,276 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in PagerDuty by 55.4% in the 1st quarter. Millennium Management LLC now owns 1,005,111 shares of the company's stock worth $18,363,000 after acquiring an additional 358,347 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

PagerDuty Trading Up 5.2%

NYSE:PD opened at $9.07 on Friday. PagerDuty has a 12-month low of $5.70 and a 12-month high of $18.00. The firm has a market capitalization of $699.86 million, a P/E ratio of 4.45, a P/E/G ratio of 2.33 and a beta of 0.94. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.95 and a quick ratio of 1.95. The business has a 50 day simple moving average of $9.09 and a 200 day simple moving average of $8.33.

PagerDuty (NYSE:PD - Get Free Report) last issued its earnings results on Thursday, May 28th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.08. The firm had revenue of $120.97 million for the quarter, compared to analyst estimates of $119.52 million. PagerDuty had a return on equity of 18.20% and a net margin of 38.60%.The firm's revenue for the quarter was up 1.0% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. PagerDuty has set its Q2 2027 guidance at 0.290-0.310 EPS. Equities research analysts predict that PagerDuty will post 0.58 EPS for the current year.

PagerDuty announced that its Board of Directors has authorized a stock buyback plan on Thursday, May 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 16.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PD. Canaccord Genuity Group increased their price objective on shares of PagerDuty from $9.00 to $10.00 and gave the company a "buy" rating in a research report on Friday, May 29th. Wall Street Zen cut shares of PagerDuty from a "buy" rating to a "hold" rating in a research report on Saturday. Royal Bank Of Canada upped their target price on shares of PagerDuty from $8.00 to $9.00 and gave the company a "sector perform" rating in a research note on Friday, May 29th. Truist Financial raised their price target on shares of PagerDuty from $9.00 to $11.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Finally, Morgan Stanley downgraded shares of PagerDuty from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $10.00 to $9.00 in a research note on Tuesday. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $11.50.

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.

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