OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Invests $411,000 in PagerDuty, Inc. (NYSE:PD)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in PagerDuty, Inc. (NYSE:PD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 22,500 shares of the company’s stock, valued at approximately $411,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC purchased a new position in shares of PagerDuty in the 4th quarter valued at approximately $43,000. Picton Mahoney Asset Management purchased a new position in PagerDuty in the 4th quarter valued at $58,000. Vinva Investment Management Ltd acquired a new position in PagerDuty in the 4th quarter valued at $139,000. PNC Financial Services Group Inc. increased its stake in PagerDuty by 24.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock valued at $184,000 after buying an additional 1,965 shares during the period. Finally, Pictet Asset Management Holding SA raised its position in PagerDuty by 35.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company’s stock worth $249,000 after buying an additional 3,533 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Stock Up 1.7%

PD opened at $17.00 on Wednesday. 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 company has a market cap of $1.55 billion, a price-to-earnings ratio of -21.25 and a beta of 0.99. PagerDuty, Inc. has a one year low of $14.30 and a one year high of $23.12. The business’s fifty day moving average is $16.53 and its two-hundred day moving average is $18.14.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The business 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 period in the previous year, the firm earned $0.17 EPS. Analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that authorizes the company to buyback $150.00 million in shares. This buyback authorization authorizes the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PD shares. 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. Morgan Stanley cut 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. Royal Bank of Canada reduced their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Canaccord Genuity Group dropped their price objective on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, The Goldman Sachs Group cut their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PagerDuty presently has an average rating of “Hold” and an average price target of $20.55.

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.