Susquehanna Fundamental Investments LLC Purchases Shares of 142,219 PagerDuty, Inc. (NYSE:PD)

Susquehanna Fundamental Investments LLC acquired a new position in PagerDuty, Inc. (NYSE:PD) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 142,219 shares of the company’s stock, valued at approximately $2,597,000.

Several other hedge funds have also recently made changes to their positions in the business. Venturi Wealth Management LLC purchased a new stake in PagerDuty in the fourth quarter worth about $43,000. Picton Mahoney Asset Management purchased a new position in shares of PagerDuty in the 4th quarter valued at approximately $58,000. Vinva Investment Management Ltd bought a new stake in shares of PagerDuty during the fourth quarter valued at approximately $139,000. 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 worth $184,000 after purchasing an additional 1,965 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in PagerDuty by 22.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company’s stock worth $247,000 after purchasing an additional 2,500 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PD. The Goldman Sachs Group dropped their target price 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. Royal Bank of Canada cut 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. Truist Financial lowered their target price on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, March 14th. Canaccord Genuity Group cut 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, Bank of America downgraded PagerDuty from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $20.55.

PagerDuty Stock Up 0.2 %

PD stock opened at $15.73 on Wednesday. The stock has a market capitalization of $1.43 billion, a P/E ratio of -19.66 and a beta of 1.06. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. PagerDuty, Inc. has a 1-year low of $14.30 and a 1-year high of $23.12. The business has a fifty day moving average price of $16.92 and a 200-day moving average price of $18.33.

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

PagerDuty announced that its board has approved a share repurchase program on Thursday, March 13th that authorizes the company to repurchase $150.00 million in shares. This repurchase authorization authorizes the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is 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.