Petrus Trust Company LTA Takes Position 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 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 31,422 shares of the company's stock, valued at approximately $574,000.

Other large investors also recently modified their holdings of the company. Northern Trust Corp grew 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 period. Teacher Retirement System of Texas bought a new stake in PagerDuty during the 1st quarter worth approximately $229,000. Nuveen Asset Management LLC grew its position in PagerDuty by 0.9% during the 4th quarter. Nuveen Asset Management LLC now owns 622,940 shares of the company's stock worth $11,375,000 after acquiring an additional 5,466 shares during the last quarter. Envestnet Asset Management Inc. grew its position in PagerDuty by 18.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 158,541 shares of the company's stock worth $2,897,000 after acquiring an additional 24,777 shares during the last quarter. Finally, KBC Group NV bought a new stake in PagerDuty during the 1st quarter worth approximately $33,000. 97.26% of the stock is currently owned by institutional investors.

PagerDuty Trading Down 2.6%

NYSE:PD traded down $0.44 during trading hours on Friday, hitting $16.15. 531,341 shares of the stock were exchanged, compared to its average volume of 1,559,652. The company's 50 day moving average is $15.85 and its two-hundred day moving average is $16.06. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $1.51 billion, a P/E ratio of -100.89, a price-to-earnings-growth ratio of 12.92 and a beta of 0.88. PagerDuty has a twelve month low of $13.69 and a twelve month high of $21.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PD shares. TD Securities decreased their price target on PagerDuty from $19.00 to $18.00 and set a "hold" rating on the stock in a research report on Wednesday, May 21st. Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating in a research report on Monday, July 28th. TD Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 price target on the stock in a research report on Monday, July 28th. JPMorgan Chase & Co. decreased their price target on PagerDuty from $21.00 to $18.00 and set an "underweight" rating on the stock in a research report on Friday, May 30th. Finally, Canaccord Genuity Group decreased their price target on PagerDuty from $21.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $18.70.

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.