PagerDuty, Inc. (NYSE:PD) Holdings Boosted by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in PagerDuty, Inc. (NYSE:PD) by 6.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 243,776 shares of the company’s stock after purchasing an additional 15,272 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PagerDuty were worth $4,451,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Venturi Wealth Management LLC acquired a new position in PagerDuty in the 4th quarter valued at approximately $43,000. Quarry LP grew its holdings in shares of PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock valued at $52,000 after acquiring an additional 1,384 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of PagerDuty during the 4th quarter valued at $58,000. Vinva Investment Management Ltd acquired a new position in shares of PagerDuty in the fourth quarter worth $139,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of PagerDuty by 24.3% during the fourth 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. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Stock Down 3.7 %

PD stock opened at $14.99 on Tuesday. PagerDuty, Inc. has a twelve month low of $14.48 and a twelve month high of $23.40. 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 has a market cap of $1.36 billion, a PE ratio of -18.73 and a beta of 1.06. The business’s 50-day simple moving average is $18.24 and its 200 day simple moving average is $18.68.

PagerDuty (NYSE:PD) last issued its earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping 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 firm had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same period last year, the business earned $0.17 earnings per share. PagerDuty’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, research analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty declared that its board has approved a share repurchase program on Thursday, March 13th that allows the company to repurchase $150.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

PD has been the topic of a number of research reports. Royal Bank of Canada dropped their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Truist Financial dropped their price target on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Canaccord Genuity Group reduced their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, March 14th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a research report on Wednesday, December 11th. Finally, Bank of America cut PagerDuty from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, PagerDuty has an average rating of “Hold” and a consensus target price of $20.73.

Insider Buying and Selling

In related news, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the transaction, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.60% of the stock is owned by corporate insiders.

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.