360,003 Shares in PagerDuty, Inc. (NYSE:PD) Purchased by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in shares of PagerDuty, Inc. (NYSE:PD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 360,003 shares of the company’s stock, valued at approximately $6,574,000. Raymond James Financial Inc. owned approximately 0.40% of PagerDuty at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PD. Intech Investment Management LLC purchased a new stake in PagerDuty during the third quarter worth about $444,000. Algert Global LLC boosted its holdings in PagerDuty by 98.9% during the third quarter. Algert Global LLC now owns 67,856 shares of the company’s stock worth $1,259,000 after buying an additional 33,740 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of PagerDuty in the third quarter valued at about $1,645,000. Loomis Sayles & Co. L P lifted its holdings in shares of PagerDuty by 33.4% in the third quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company’s stock valued at $14,995,000 after purchasing an additional 202,382 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of PagerDuty in the third quarter valued at about $929,000. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Stock Performance

Shares of PD stock opened at $18.87 on Monday. PagerDuty, Inc. has a one year low of $15.49 and a one year high of $23.40. The company has a 50 day moving average price of $18.34 and a 200 day moving average price of $18.66. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -23.59 and a beta of 1.12. 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 released its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) 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 company had revenue of $121.45 million during the quarter, compared to analyst estimates of $119.53 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. Sell-side analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty announced that its board has authorized a share buyback program on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits 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 leadership believes its shares are undervalued.

Insider Activity

In other news, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the transaction, the insider now directly owns 199,122 shares in the company, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the completion of the transaction, the chief executive officer now owns 868,311 shares in the company, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,048 shares of company stock worth $186,699. 7.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PD has been the topic of several recent research reports. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their price target for the company from $23.00 to $18.00 in a report on Thursday, January 30th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 price target on shares of PagerDuty in a report on Wednesday, December 11th. Truist Financial reduced their price target 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. The Goldman Sachs Group reduced their price target 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. Finally, Royal Bank of Canada reduced their price target 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $20.73.

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.