Quantbot Technologies LP Increases Stock Position in PagerDuty, Inc. (NYSE:PD)

Quantbot Technologies LP increased its holdings in PagerDuty, Inc. (NYSE:PD) by 86.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 93,381 shares of the company’s stock after buying an additional 43,302 shares during the period. Quantbot Technologies LP owned 0.10% of PagerDuty worth $1,705,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. RGM Capital LLC grew its position in PagerDuty by 1.3% during the third quarter. RGM Capital LLC now owns 4,564,296 shares of the company’s stock valued at $84,668,000 after acquiring an additional 59,902 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of PagerDuty by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after purchasing an additional 37,147 shares during the last quarter. JPMorgan Chase & Co. raised its position in PagerDuty by 285.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock worth $23,444,000 after purchasing an additional 936,257 shares during the period. Bank of New York Mellon Corp raised its position in PagerDuty by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock worth $16,531,000 after purchasing an additional 100,207 shares during the period. Finally, Barclays PLC lifted its stake in PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after purchasing an additional 175,733 shares during the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PagerDuty

In related news, insider Shelley Webb sold 7,879 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the transaction, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the sale, the chief executive officer now directly owns 868,311 shares in the company, valued at $17,366,220. This represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,048 shares of company stock worth $186,699 over the last three months. Company insiders own 7.60% of the company’s stock.

PagerDuty Price Performance

Shares of PD opened at $19.39 on Tuesday. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The company’s fifty day moving average price is $18.37 and its 200-day moving average price is $18.66. PagerDuty, Inc. has a 1-year low of $15.49 and a 1-year high of $23.40. The firm has a market capitalization of $1.77 billion, a PE ratio of -24.24 and a beta of 1.12.

PagerDuty (NYSE:PD) last announced 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 firm had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. On average, equities research analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PD. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and dropped their price target for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. Royal Bank of Canada dropped 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. 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. Finally, Truist Financial decreased their target price on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, PagerDuty presently has an average rating of “Hold” and an average price target of $20.73.

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.