Quantinno Capital Management LP Invests $754,000 in PagerDuty, Inc. (NYSE:PD)

Quantinno Capital Management LP bought a new stake in PagerDuty, Inc. (NYSE:PD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 41,266 shares of the company's stock, valued at approximately $754,000.

Several other large investors have also recently bought and sold shares of PD. Marshall Wace LLP increased its holdings in PagerDuty by 989.0% in the fourth quarter. Marshall Wace LLP now owns 721,953 shares of the company's stock valued at $13,183,000 after buying an additional 655,655 shares during the last quarter. Raymond James Financial Inc. acquired a new position in PagerDuty in the fourth quarter valued at $6,574,000. Scalar Gauge Management LLC acquired a new position in PagerDuty in the fourth quarter valued at $5,993,000. Norges Bank acquired a new position in PagerDuty in the fourth quarter valued at $4,914,000. Finally, Cubist Systematic Strategies LLC boosted its stake in PagerDuty by 44.6% in the fourth quarter. Cubist Systematic Strategies LLC now owns 709,154 shares of the company's stock valued at $12,949,000 after acquiring an additional 218,674 shares in the last quarter. Hedge funds and other institutional investors own 97.26% of the company's stock.

PagerDuty Stock Performance

NYSE:PD traded down $0.04 during mid-day trading on Thursday, reaching $15.96. The stock had a trading volume of 232,324 shares, compared to its average volume of 1,079,362. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -19.95 and a beta of 0.99. PagerDuty, Inc. has a twelve month low of $14.30 and a twelve month high of $23.12. The business has a 50 day simple moving average of $16.21 and a 200 day simple moving average of $17.95.

PagerDuty (NYSE:PD - Get Free Report) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.06. The firm had revenue of $121.45 million during the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.17 earnings per share. On average, analysts expect that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its Board of Directors has approved a share buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to reacquire up to 10.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PD shares. The Goldman Sachs Group decreased their price objective on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, March 14th. TD Securities decreased their price objective on shares of PagerDuty from $19.00 to $18.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Finally, Royal Bank of Canada decreased their price objective on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.33.

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.