ArrowMark Colorado Holdings LLC Raises Stock Holdings in PagerDuty, Inc. (NYSE:PD)

ArrowMark Colorado Holdings LLC lifted its holdings in PagerDuty, Inc. (NYSE:PD) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 523,042 shares of the company’s stock after acquiring an additional 34,938 shares during the period. ArrowMark Colorado Holdings LLC’s holdings in PagerDuty were worth $9,551,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PD. Alliancebernstein L.P. boosted its stake in shares of PagerDuty by 0.7% during the fourth quarter. Alliancebernstein L.P. now owns 92,621 shares of the company’s stock valued at $1,691,000 after purchasing an additional 674 shares during the period. Franklin Resources Inc. boosted its position in PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after acquiring an additional 1,701 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock valued at $184,000 after purchasing an additional 1,965 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of PagerDuty by 12.4% in the 4th quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company’s stock worth $347,000 after buying an additional 2,100 shares during the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in PagerDuty in the fourth quarter worth $43,000. 97.26% of the stock is owned by institutional investors.

PagerDuty Stock Performance

Shares of PagerDuty stock opened at $15.50 on Friday. PagerDuty, Inc. has a one year low of $14.30 and a one year high of $23.12. 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 business’s 50 day moving average price is $16.77 and its 200 day moving average price is $18.26. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -19.37 and a beta of 0.99.

PagerDuty (NYSE:PD) last released its quarterly earnings results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, beating the consensus estimate 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 net margin of 16.29% and a negative return on equity of 22.02%. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. On average, research analysts predict that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has approved a stock repurchase program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a report on Friday, March 14th. Morgan Stanley reduced their price objective on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Royal Bank of Canada lowered their price target 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. Canaccord Genuity Group lowered their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Bank of America lowered 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.55.

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.