Sumitomo Mitsui Trust Group Inc. Cuts Stake in PagerDuty (NYSE:PD)

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of PagerDuty (NYSE:PD) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,108,241 shares of the company’s stock after selling 256,324 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PagerDuty were worth $56,788,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PagerDuty by 1.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,930 shares of the company’s stock worth $930,000 after buying an additional 586 shares during the last quarter. Alliancebernstein L.P. raised its position in PagerDuty by 0.7% during the 4th quarter. Alliancebernstein L.P. now owns 92,621 shares of the company’s stock worth $1,691,000 after buying an additional 674 shares during the last quarter. PNC Financial Services Group Inc. raised its position in PagerDuty by 24.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock worth $184,000 after buying an additional 1,965 shares during the last quarter. Handelsbanken Fonder AB raised its position in PagerDuty by 12.4% during 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, Skandinaviska Enskilda Banken AB publ raised its position in PagerDuty by 22.3% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company’s stock worth $247,000 after buying an additional 2,500 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Price Performance

Shares of NYSE PD opened at $15.29 on Tuesday. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -38.23, a PEG ratio of 8.78 and a beta of 0.89. PagerDuty has a 52 week low of $13.70 and a 52 week high of $23.11. The company’s 50-day moving average price is $15.44 and its 200 day moving average price is $17.04. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 2.70.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $119.81 million for the quarter, compared to analysts’ expectations of $118.98 million. PagerDuty had a negative net margin of 7.75% and a negative return on equity of 8.73%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.17 EPS. As a group, research analysts forecast that PagerDuty will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its board has initiated a stock buyback 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PD shares. Royal Bank Of Canada cut their price objective on shares of PagerDuty from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. TD Securities cut their price objective on shares of PagerDuty from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. JPMorgan Chase & Co. cut their price target on shares of PagerDuty from $21.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, May 30th. Morgan Stanley cut their price target on shares of PagerDuty from $20.00 to $17.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group cut their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.50.

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.