Canada Pension Plan Investment Board Purchases 13,400 Shares of PagerDuty, Inc. (NYSE:PD)

Canada Pension Plan Investment Board grew its position in shares of PagerDuty, Inc. (NYSE:PD) by 181.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,800 shares of the company’s stock after acquiring an additional 13,400 shares during the quarter. Canada Pension Plan Investment Board’s holdings in PagerDuty were worth $380,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. AMI Asset Management Corp increased its position in shares of PagerDuty by 154.2% during the 4th quarter. AMI Asset Management Corp now owns 56,156 shares of the company’s stock worth $1,025,000 after purchasing an additional 34,063 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of PagerDuty by 5.4% in the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after buying an additional 1,701 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in PagerDuty by 12.4% during the fourth quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock worth $16,531,000 after buying an additional 100,207 shares during the last quarter. JPMorgan Chase & Co. raised its position in PagerDuty by 285.8% during the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company’s stock worth $23,444,000 after acquiring an additional 936,257 shares in the last quarter. 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 valued at $16,716,000 after acquiring an additional 175,733 shares during the last quarter. 97.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PD has been the topic of a number of research analyst reports. Truist Financial dropped their target price on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Morgan Stanley reduced their target price 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. Canaccord Genuity Group dropped their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Finally, The Goldman Sachs Group cut their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.55.

Insiders Place Their Bets

In other news, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the transaction, the chief executive officer now directly owns 868,311 shares in the company, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

PagerDuty Stock Up 0.3 %

PD opened at $15.72 on Friday. The stock has a fifty day moving average of $17.03 and a 200-day moving average of $18.36. The company has a market capitalization of $1.43 billion, a P/E ratio of -19.65 and a beta of 1.06. PagerDuty, Inc. has a fifty-two week low of $14.30 and a fifty-two week 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.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue was up 9.3% on a year-over-year basis. On average, equities analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its board has authorized a stock 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 stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

PagerDuty 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.