Northern Trust Corp Purchases 35,026 Shares of PagerDuty, Inc. (NYSE:PD)

Northern Trust Corp raised its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 4.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 907,074 shares of the company's stock after acquiring an additional 35,026 shares during the quarter. Northern Trust Corp owned approximately 1.01% of PagerDuty worth $16,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Alliancebernstein L.P. lifted its holdings in shares of PagerDuty by 0.7% in the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company's stock worth $1,691,000 after acquiring an additional 674 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of PagerDuty by 5.4% in the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company's stock valued at $614,000 after buying an additional 1,701 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock valued at $184,000 after buying an additional 1,965 shares during the period. Handelsbanken Fonder AB increased its stake in shares of PagerDuty by 12.4% in the fourth quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company's stock valued at $347,000 after buying an additional 2,100 shares during the period. Finally, Venturi Wealth Management LLC acquired a new position in shares of PagerDuty in the fourth quarter valued at approximately $43,000. Institutional investors own 97.26% of the company's stock.

PagerDuty Stock Up 0.5%

Shares of PD traded up $0.09 during trading hours on Friday, reaching $16.87. The stock had a trading volume of 890,037 shares, compared to its average volume of 1,087,502. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The firm has a 50-day simple moving average of $16.51 and a 200 day simple moving average of $18.11. PagerDuty, Inc. has a 12 month low of $14.30 and a 12 month high of $23.12. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -21.09 and a beta of 0.99.

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

PagerDuty declared that its Board of Directors has authorized a share buyback program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

PD has been the subject of several recent research reports. Bank of America downgraded PagerDuty from a "buy" rating to an "underperform" rating and lowered their price objective for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. The Goldman Sachs Group decreased their target price on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Friday, March 14th. Royal Bank of Canada decreased their target price on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group decreased their target price on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, Morgan Stanley decreased their target price on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $20.55.

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.