Petrus Trust Company LTA Invests $574,000 in PagerDuty $PD

Key Points

• Petrus Trust Company LTA acquired a new position in PagerDuty, purchasing 31,422 shares valued at approximately $574,000 in the first quarter.
• Multiple analysts have recently changed their ratings on PagerDuty, with Wall Street Zen upgrading it to a "strong-buy" while other firms have adjusted price targets, setting an average target price of $18.70.
• PagerDuty shares opened at $16.48, with a market cap of $1.50 billion and a current PE ratio of -103.01, indicating a challenging earnings period.

Petrus Trust Company LTA acquired a new stake in PagerDuty (NYSE:PD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,422 shares of the company's stock, valued at approximately $574,000.

A number of other hedge funds have also modified their holdings of the company. Millennium Management LLC increased its holdings in shares of PagerDuty by 55.4% in the first quarter. Millennium Management LLC now owns 1,005,111 shares of the company's stock valued at $18,363,000 after purchasing an additional 358,347 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PagerDuty by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company's stock valued at $943,000 after purchasing an additional 671 shares during the period. AQR Capital Management LLC boosted its stake in shares of PagerDuty by 110.6% in the first quarter. AQR Capital Management LLC now owns 147,127 shares of the company's stock worth $2,679,000 after buying an additional 77,251 shares during the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of PagerDuty in the first quarter worth about $262,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of PagerDuty by 3.6% in the first quarter. Cubist Systematic Strategies LLC now owns 734,706 shares of the company's stock worth $13,423,000 after buying an additional 25,552 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

PagerDuty Trading Down 4.1%

PD stock traded down $0.68 during midday trading on Wednesday, hitting $15.97. 1,814,823 shares of the company's stock were exchanged, compared to its average volume of 1,563,868. The business has a 50-day simple moving average of $15.83 and a two-hundred day simple moving average of $16.07. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 2.18. The stock has a market capitalization of $1.49 billion, a PE ratio of -99.78, a P/E/G ratio of 13.92 and a beta of 0.88. PagerDuty has a 1-year low of $13.69 and a 1-year high of $21.98.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PD. Cowen raised PagerDuty from a "hold" rating to a "buy" rating in a report on Monday, July 28th. Wall Street Zen raised PagerDuty from a "buy" rating to a "strong-buy" rating in a report on Sunday, August 31st. TD Cowen raised PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 price target for the company in a report on Monday, July 28th. Robert W. Baird cut their price target on PagerDuty from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, September 4th. Finally, Zacks Research raised PagerDuty to a "hold" rating in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, PagerDuty has an average rating of "Hold" and a consensus price target of $18.70.

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.