Algert Global LLC Lowers Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Algert Global LLC reduced its position in PagerDuty, Inc. (NYSE:PD) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,849 shares of the company’s stock after selling 3,007 shares during the quarter. Algert Global LLC owned approximately 0.07% of PagerDuty worth $1,184,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Barclays PLC increased its holdings in PagerDuty by 2.0% during the 4th quarter. Barclays PLC now owns 918,762 shares of the company’s stock worth $16,777,000 after purchasing an additional 17,642 shares during the period. Northern Trust Corp grew its position in shares of PagerDuty by 4.0% during the fourth quarter. Northern Trust Corp now owns 907,074 shares of the company’s stock worth $16,563,000 after buying an additional 35,026 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in PagerDuty by 12.4% in the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock valued at $16,531,000 after acquiring an additional 100,207 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in PagerDuty by 7.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company’s stock valued at $15,051,000 after acquiring an additional 55,233 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in PagerDuty by 0.5% during the 4th quarter. Loomis Sayles & Co. L P now owns 812,609 shares of the company’s stock worth $14,838,000 after acquiring an additional 4,244 shares in the last quarter. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PD. Royal Bank of Canada reduced 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. Bank of America downgraded PagerDuty from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Morgan Stanley cut their target price on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. 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. Finally, 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 report on Friday, March 14th. Two research 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.com, the company has an average rating of “Hold” and an average target price of $20.55.

PagerDuty Price Performance

Shares of PD opened at $15.88 on Friday. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. PagerDuty, Inc. has a fifty-two week low of $14.30 and a fifty-two week high of $23.12. The firm has a 50-day simple moving average of $16.55 and a 200-day simple moving average of $18.16. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of -19.85 and a beta of 0.99.

PagerDuty (NYSE:PD) last announced its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating 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 company had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. During the same period last year, the business posted $0.17 EPS. The company’s revenue was up 9.3% on a year-over-year basis. On average, equities research analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

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

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.