Royal Bank of Canada Raises PagerDuty (NYSE:PD) Price Target to $34.00

PagerDuty (NYSE:PD – Get Rating) had its price target increased by Royal Bank of Canada from $32.00 to $34.00 in a research note published on Thursday morning, The Fly reports.

A number of other equities research analysts have also recently issued reports on PD. Morgan Stanley upgraded shares of PagerDuty from an equal weight rating to an overweight rating and increased their target price for the stock from $32.00 to $36.00 in a research report on Friday, January 20th. Credit Suisse Group increased their target price on shares of PagerDuty from $32.00 to $39.00 and gave the stock an outperform rating in a research report on Friday, January 27th. Canaccord Genuity Group dropped their target price on shares of PagerDuty from $32.00 to $31.00 in a research report on Monday, December 5th. Craig Hallum dropped their target price on shares of PagerDuty to $32.00 in a research report on Friday, December 2nd. Finally, Robert W. Baird increased their target price on shares of PagerDuty from $32.00 to $35.00 and gave the stock an outperform rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, PagerDuty presently has a consensus rating of Moderate Buy and a consensus target price of $34.45.

PagerDuty Stock Performance

Shares of PD stock opened at $32.07 on Thursday. PagerDuty has a 52-week low of $19.51 and a 52-week high of $38.75. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.37 and a current ratio of 2.37. The firm has a fifty day moving average of $29.14 and a 200-day moving average of $25.63.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 191,462 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $28.30, for a total value of $5,418,374.60. Following the completion of the sale, the chief executive officer now owns 602,610 shares in the company, valued at approximately $17,053,863. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Howard Wilson sold 20,615 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $25.97, for a total value of $535,371.55. Following the transaction, the chief financial officer now owns 472,793 shares of the company’s stock, valued at approximately $12,278,434.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer Tejada sold 191,462 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $28.30, for a total transaction of $5,418,374.60. Following the completion of the transaction, the chief executive officer now directly owns 602,610 shares in the company, valued at approximately $17,053,863. The disclosure for this sale can be found here. In the last 90 days, insiders sold 492,358 shares of company stock worth $14,064,972. 8.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. boosted its stake in PagerDuty by 6.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 6,038 shares of the company’s stock worth $150,000 after acquiring an additional 369 shares during the last quarter. American International Group Inc. boosted its stake in PagerDuty by 1.3% during the 4th quarter. American International Group Inc. now owns 40,906 shares of the company’s stock worth $1,086,000 after acquiring an additional 508 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in PagerDuty by 1.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 34,383 shares of the company’s stock worth $913,000 after acquiring an additional 518 shares during the last quarter. Sigma Planning Corp boosted its stake in PagerDuty by 5.9% during the 4th quarter. Sigma Planning Corp now owns 10,437 shares of the company’s stock worth $277,000 after acquiring an additional 585 shares during the last quarter. Finally, Amalgamated Bank boosted its stake in PagerDuty by 4.7% during the 4th quarter. Amalgamated Bank now owns 14,343 shares of the company’s stock worth $381,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 90.66% of the company’s stock.

PagerDuty Company Profile

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PagerDuty, Inc operates a digital operations management platform. It provides incident management solution that integrates with information technology Ops and DevOps monitoring stacks to improve operational reliability and agility. The firm collect machine generated data from virtually any software-enabled system or device, combine it with human response data, correlating and interpreting this data to understand issues and opportunities that need to be addressed in real-time.