California Public Employees Retirement System Has $3.55 Million Position in PagerDuty, Inc. (NYSE:PD)

California Public Employees Retirement System boosted its stake in PagerDuty, Inc. (NYSE:PD) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,514 shares of the company’s stock after purchasing an additional 2,608 shares during the quarter. California Public Employees Retirement System owned about 0.17% of PagerDuty worth $3,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System lifted its holdings in shares of PagerDuty by 2.3% in the 3rd quarter. Arizona State Retirement System now owns 24,941 shares of the company’s stock worth $561,000 after purchasing an additional 563 shares in the last quarter. Diversified Trust Co lifted its stake in shares of PagerDuty by 4.2% in the third quarter. Diversified Trust Co now owns 16,312 shares of the company’s stock valued at $367,000 after buying an additional 660 shares in the last quarter. Renaissance Group LLC lifted its stake in shares of PagerDuty by 1.1% in the third quarter. Renaissance Group LLC now owns 80,393 shares of the company’s stock valued at $1,802,000 after buying an additional 873 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in shares of PagerDuty by 100.0% during the fourth quarter. FNY Investment Advisers LLC now owns 2,000 shares of the company’s stock valued at $46,000 after buying an additional 1,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of PagerDuty by 6.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 17,770 shares of the company’s stock worth $411,000 after acquiring an additional 1,020 shares in the last quarter. 97.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PD shares. Truist Financial upgraded PagerDuty from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $30.00 in a research note on Monday, March 18th. Canaccord Genuity Group decreased their price objective on shares of PagerDuty from $30.00 to $27.00 and set a “buy” rating for the company in a report on Monday, March 18th. Robert W. Baird lowered their price objective on shares of PagerDuty from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Friday, March 15th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $30.00 target price on shares of PagerDuty in a research report on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $27.25.

PagerDuty Price Performance

PD opened at $20.39 on Monday. The firm has a 50-day moving average price of $22.24 and a 200-day moving average price of $22.61. PagerDuty, Inc. has a twelve month low of $19.18 and a twelve month high of $29.97. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -23.17 and a beta of 0.93.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). PagerDuty had a negative net margin of 18.98% and a negative return on equity of 24.65%. The business had revenue of $111.12 million during the quarter, compared to analysts’ expectations of $110.50 million. Equities analysts expect that PagerDuty, Inc. will post -0.44 EPS for the current year.

Insider Activity

In other news, CFO Howard Wilson sold 8,893 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.09, for a total transaction of $223,125.37. Following the sale, the chief financial officer now directly owns 507,672 shares in the company, valued at $12,737,490.48. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CAO Mitra Rezvan sold 2,215 shares of the stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $21.62, for a total value of $47,888.30. Following the sale, the chief accounting officer now owns 119,452 shares in the company, valued at $2,582,552.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Wilson sold 8,893 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.09, for a total value of $223,125.37. Following the transaction, the chief financial officer now owns 507,672 shares of the company’s stock, valued at $12,737,490.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,967 shares of company stock worth $424,587. 7.90% of the stock is owned by corporate insiders.

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.