Barclays PLC Buys 17,642 Shares of PagerDuty, Inc. (NYSE:PD)

Barclays PLC lifted its stake in shares of PagerDuty, Inc. (NYSE:PD) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 918,762 shares of the company’s stock after acquiring an additional 17,642 shares during the period. Barclays PLC’s holdings in PagerDuty were worth $16,777,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in PagerDuty in the 4th quarter valued at approximately $6,574,000. Renaissance Group LLC raised its holdings in shares of PagerDuty by 8.8% in the fourth quarter. Renaissance Group LLC now owns 134,282 shares of the company’s stock valued at $2,434,000 after purchasing an additional 10,839 shares during the last quarter. Hel Ved Capital Management Ltd bought a new stake in shares of PagerDuty in the fourth quarter worth $484,000. ExodusPoint Capital Management LP acquired a new position in PagerDuty during the fourth quarter worth $553,000. Finally, Massachusetts Financial Services Co. MA grew its position in PagerDuty by 6.7% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 243,776 shares of the company’s stock valued at $4,451,000 after purchasing an additional 15,272 shares in the last quarter. 97.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now owns 868,311 shares of the company’s stock, valued at $17,366,220. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 7.60% of the stock is currently owned by corporate insiders.

PagerDuty Trading Down 2.4 %

PD stock opened at $14.72 on Monday. PagerDuty, Inc. has a one year low of $14.40 and a one year high of $23.12. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -18.40 and a beta of 1.06. The company has a fifty day moving average price of $17.43 and a two-hundred day moving average price of $18.46. 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 (NYSE:PD) last announced its quarterly 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 business had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. PagerDuty’s quarterly revenue was up 9.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 EPS. Equities analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PD shares. The Goldman Sachs Group cut their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Truist Financial dropped their target price on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Canaccord Genuity Group decreased their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Morgan Stanley dropped their price objective on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Royal Bank of Canada decreased their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $20.55.

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.