PNC Financial Services Group Inc. Grows Holdings in PagerDuty, Inc. (NYSE:PD)

PNC Financial Services Group Inc. grew its stake in shares of PagerDuty, Inc. (NYSE:PD) by 24.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,061 shares of the company’s stock after purchasing an additional 1,965 shares during the quarter. PNC Financial Services Group Inc.’s holdings in PagerDuty were worth $184,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Venturi Wealth Management LLC bought a new stake in PagerDuty during the 4th quarter valued at about $43,000. Quarry LP increased its position in shares of PagerDuty by 98.3% during the third quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after acquiring an additional 1,384 shares during the period. Fred Alger Management LLC raised its stake in shares of PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company’s stock valued at $76,000 after acquiring an additional 1,594 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of PagerDuty in the third quarter valued at approximately $163,000. Finally, Blue Trust Inc. grew its stake in PagerDuty by 24.8% in the fourth quarter. Blue Trust Inc. now owns 14,796 shares of the company’s stock worth $274,000 after purchasing an additional 2,938 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PagerDuty

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

PagerDuty Stock Performance

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 firm has a market cap 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. The firm has a 50-day simple moving average of $18.34 and a two-hundred day simple moving average of $18.66.

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

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PD. Royal Bank of Canada decreased their target price on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. JPMorgan Chase & Co. restated an “underweight” rating and set a $21.00 price target on shares of PagerDuty in a research note on Wednesday, December 11th. Truist Financial lowered their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and cut their target price for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. Finally, The Goldman Sachs Group lowered their price target on shares of 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 issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, PagerDuty presently has an average rating of “Hold” and a consensus price target of $20.73.

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.