Westerly Capital Management LLC Takes $2.74 Million Position in PagerDuty, Inc. (NYSE:PD)

Westerly Capital Management LLC acquired a new stake in PagerDuty, Inc. (NYSE:PD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 150,000 shares of the company's stock, valued at approximately $2,739,000. PagerDuty accounts for about 1.3% of Westerly Capital Management LLC's investment portfolio, making the stock its 24th biggest holding. Westerly Capital Management LLC owned 0.17% of PagerDuty at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Venturi Wealth Management LLC purchased a new position in shares of PagerDuty in the 4th quarter valued at about $43,000. Picton Mahoney Asset Management acquired a new stake in PagerDuty in the fourth quarter valued at approximately $58,000. Vinva Investment Management Ltd purchased a new position in PagerDuty in the fourth quarter worth approximately $139,000. PNC Financial Services Group Inc. grew its holdings in PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company's stock worth $184,000 after acquiring an additional 1,965 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its position in shares of PagerDuty by 22.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company's stock valued at $247,000 after purchasing an additional 2,500 shares during the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on PD shares. Truist Financial decreased their price objective on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group lowered their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Bank of America downgraded PagerDuty from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. The Goldman Sachs Group lowered their price target on PagerDuty from $21.00 to $18.00 and set a "neutral" rating for the company in a report on Friday, March 14th. Finally, Royal Bank of Canada cut their price objective 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. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PagerDuty presently has an average rating of "Hold" and an average price target of $20.55.

PagerDuty Stock Performance

PD stock traded down $0.05 on Friday, hitting $15.50. The company's stock had a trading volume of 805,478 shares, compared to its average volume of 1,079,707. PagerDuty, Inc. has a 1 year low of $14.30 and a 1 year high of $23.12. 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 stock has a market cap of $1.41 billion, a price-to-earnings ratio of -19.37 and a beta of 1.06. The firm has a 50 day moving average of $16.77 and a two-hundred day moving average of $18.27.

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

PagerDuty announced that its board has approved a stock buyback 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

PagerDuty Company 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.