360,003 Shares in PagerDuty, Inc. (NYSE:PD) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 360,003 shares of the company's stock, valued at approximately $6,574,000. Raymond James Financial Inc. owned about 0.40% of PagerDuty as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Venturi Wealth Management LLC bought a new position in PagerDuty in the fourth quarter worth about $43,000. Picton Mahoney Asset Management acquired a new stake in PagerDuty during the fourth quarter valued at approximately $58,000. Vinva Investment Management Ltd acquired a new position in shares of PagerDuty in the 4th quarter worth $139,000. PNC Financial Services Group Inc. lifted its stake in PagerDuty by 24.3% during 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 in the last quarter. Finally, Pictet Asset Management Holding SA raised its stake in PagerDuty by 35.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company's stock valued at $249,000 after purchasing an additional 3,533 shares during the period. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Bank of America downgraded PagerDuty from a "buy" rating to an "underperform" rating and cut their price target for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. Truist Financial reduced their price target on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a report on Friday, March 14th. The Goldman Sachs Group reduced their price objective on shares of PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Royal Bank of Canada lowered their target price on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Finally, Morgan Stanley decreased their price objective on shares of PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.55.

PagerDuty Stock Up 0.4 %

NYSE PD traded up $0.07 on Tuesday, reaching $15.77. The company had a trading volume of 53,648 shares, compared to its average volume of 1,069,999. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The company's fifty day moving average is $16.97 and its 200 day moving average is $18.35. PagerDuty, Inc. has a 52-week low of $14.30 and a 52-week high of $23.12. The stock has a market capitalization of $1.44 billion, a P/E ratio of -19.71 and a beta of 1.06.

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

PagerDuty declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its shares are undervalued.

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.