RGM Capital LLC Buys 634,131 Shares of PagerDuty $PD

Key Points

• RGM Capital LLC increased its stake in PagerDuty by 12.6%, owning approximately 5.65 million shares after acquiring an additional 634,131 shares.
• PagerDuty reported earnings of $0.24 per share, exceeding analyst expectations of $0.19, with a revenue of $119.81 million for the quarter.
• As of now, the stock has a consensus rating of "Hold" with an average target price of $19.75 among analysts.

RGM Capital LLC lifted its stake in shares of PagerDuty (NYSE:PD - Free Report) by 12.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,649,592 shares of the company's stock after buying an additional 634,131 shares during the period. PagerDuty comprises approximately 4.3% of RGM Capital LLC's investment portfolio, making the stock its 14th biggest position. RGM Capital LLC owned approximately 6.20% of PagerDuty worth $103,218,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC grew its position in PagerDuty by 2,235.6% during the 1st quarter. Headlands Technologies LLC now owns 1,378 shares of the company's stock worth $25,000 after acquiring an additional 1,319 shares during the last quarter. KBC Group NV acquired a new stake in shares of PagerDuty during the first quarter valued at about $33,000. Summit Securities Group LLC bought a new stake in shares of PagerDuty during the first quarter worth about $33,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PagerDuty during the fourth quarter worth about $130,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of PagerDuty in the first quarter valued at approximately $229,000. Institutional investors and hedge funds own 97.26% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on PD. TD Cowen upgraded shares of PagerDuty from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a research report on Monday, July 28th. Wall Street Zen downgraded shares of PagerDuty from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 23rd. Zacks Research upgraded shares of PagerDuty to a "hold" rating in a report on Friday, August 8th. Cowen upgraded PagerDuty from a "hold" rating to a "buy" rating in a report on Monday, July 28th. Finally, Royal Bank Of Canada lowered their target price on PagerDuty from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.75.

PagerDuty Trading Down 0.2%

Shares of PD stock traded down $0.03 during mid-day trading on Thursday, hitting $16.92. The company's stock had a trading volume of 2,390,498 shares, compared to its average volume of 2,335,149. The company's fifty day simple moving average is $15.55 and its 200-day simple moving average is $16.22. PagerDuty has a 52 week low of $13.69 and a 52 week high of $21.98. The company has a debt-to-equity ratio of 2.70, a quick ratio of 2.02 and a current ratio of 2.02. The company has a market cap of $1.54 billion, a PE ratio of -42.31, a P/E/G ratio of 10.17 and a beta of 0.89.

PagerDuty (NYSE:PD - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.24 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $118.98 million. During the same quarter in the prior year, the company earned $0.17 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts expect that PagerDuty will post -0.27 earnings per share for the current fiscal year.

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.