Voya Investment Management LLC Has $2.88 Million Stake in PagerDuty, Inc. (NYSE:PD)

Voya Investment Management LLC lifted its stake in PagerDuty, Inc. (NYSE:PD - Free Report) by 437.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 157,960 shares of the company's stock after purchasing an additional 128,567 shares during the period. Voya Investment Management LLC owned 0.18% of PagerDuty worth $2,884,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in shares of PagerDuty by 285.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock valued at $23,444,000 after buying an additional 936,257 shares during the period. Marshall Wace LLP boosted 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 acquiring an additional 655,655 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in PagerDuty in the fourth quarter worth about $6,574,000. Scalar Gauge Management LLC bought a new stake in PagerDuty during the 4th quarter worth about $5,993,000. Finally, Norges Bank acquired a new position in PagerDuty during the 4th quarter valued at about $4,914,000. Institutional investors own 97.26% of the company's stock.

Wall Street Analysts Forecast Growth

PD has been the subject of several analyst reports. The Goldman Sachs Group lowered their price target 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. Bank of America cut shares of PagerDuty from a "buy" rating to an "underperform" rating and dropped their target price for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. Truist Financial reduced their price target on PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Canaccord Genuity Group cut their target price on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Morgan Stanley decreased their target price on 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 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $20.55.

PagerDuty Price Performance

NYSE PD opened at $15.50 on Friday. 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 stock has a market cap of $1.41 billion, a price-to-earnings ratio of -19.37 and a beta of 1.06. The business has a 50 day simple moving average of $16.77 and a 200 day simple moving average of $18.27. PagerDuty, Inc. has a 52-week low of $14.30 and a 52-week high of $23.12.

PagerDuty (NYSE:PD - Get Free Report) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.06. The company 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 in the prior year, the firm earned $0.17 earnings per share. Analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

PagerDuty declared that its board has initiated a share buyback program on Thursday, March 13th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication 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.

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