PagerDuty, Inc. (NYSE:PD) Shares Bought by RGM Capital LLC

RGM Capital LLC raised its position in shares of PagerDuty, Inc. (NYSE:PD) by 3.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,504,394 shares of the company’s stock after acquiring an additional 143,701 shares during the quarter. PagerDuty makes up about 4.1% of RGM Capital LLC’s holdings, making the stock its 11th largest holding. RGM Capital LLC owned 4.71% of PagerDuty worth $103,286,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PD. Charles Schwab Investment Management Inc. increased its position in shares of PagerDuty by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 832,948 shares of the company’s stock worth $19,283,000 after purchasing an additional 19,626 shares in the last quarter. Norges Bank purchased a new stake in shares of PagerDuty during the fourth quarter worth $15,912,000. Quest Partners LLC acquired a new stake in shares of PagerDuty in the fourth quarter valued at about $221,000. Resolute Advisors LLC purchased a new position in shares of PagerDuty in the fourth quarter worth about $142,000. Finally, Olympiad Research LP acquired a new position in PagerDuty during the fourth quarter worth about $415,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Price Performance

Shares of PD opened at $18.06 on Friday. The firm has a 50-day simple moving average of $19.30 and a two-hundred day simple moving average of $20.60. The stock has a market cap of $1.68 billion, a PE ratio of -17.88 and a beta of 1.05. PagerDuty, Inc. has a 1-year low of $16.46 and a 1-year high of $26.70. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13.

PagerDuty (NYSE:PD) last posted its earnings results on Tuesday, September 3rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.04. PagerDuty had a negative net margin of 18.58% and a negative return on equity of 25.83%. The firm had revenue of $115.94 million during the quarter, compared to the consensus estimate of $116.52 million. During the same quarter last year, the firm earned ($0.18) EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, analysts forecast that PagerDuty, Inc. will post -0.37 EPS for the current year.

Analyst Ratings Changes

PD has been the subject of a number of recent research reports. TD Cowen decreased their target price on shares of PagerDuty from $23.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Royal Bank of Canada cut their price target on PagerDuty from $27.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Canaccord Genuity Group lowered their price objective on PagerDuty from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Scotiabank cut their target price on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. Finally, Morgan Stanley lowered their price target on shares of PagerDuty from $24.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.91.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of PagerDuty stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $21.07, for a total value of $658,437.50. Following the completion of the transaction, the chief executive officer now directly owns 1,023,579 shares of the company’s stock, valued at approximately $21,566,809.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other PagerDuty news, CEO Jennifer Tejada sold 31,250 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $21.07, for a total value of $658,437.50. Following the completion of the transaction, the chief executive officer now owns 1,023,579 shares of the company’s stock, valued at approximately $21,566,809.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howard Wilson sold 12,108 shares of the business’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $20.49, for a total transaction of $248,092.92. Following the completion of the transaction, the chief financial officer now owns 594,202 shares of the company’s stock, valued at approximately $12,175,198.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 110,244 shares of company stock worth $2,316,980. 7.60% of the stock is currently owned by company insiders.

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.