PNC Financial Services Group Inc. Boosts Position in PagerDuty, Inc. (NYSE:PD)

PNC Financial Services Group Inc. grew its holdings in PagerDuty, Inc. (NYSE:PD) by 24.3% during the 4th quarter, Holdings Channel reports. The fund owned 10,061 shares of the company’s stock after purchasing an additional 1,965 shares during the period. PNC Financial Services Group Inc.’s holdings in PagerDuty were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vestmark Advisory Solutions Inc. lifted its holdings in shares of PagerDuty by 10.8% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 256,568 shares of the company’s stock valued at $4,911,000 after buying an additional 24,918 shares during the period. Raymond James Financial Inc. purchased a new position in PagerDuty during the fourth quarter valued at approximately $6,574,000. M&T Bank Corp lifted its holdings in PagerDuty by 17.5% in the fourth quarter. M&T Bank Corp now owns 60,985 shares of the company’s stock valued at $1,113,000 after acquiring an additional 9,085 shares during the period. Bank of New York Mellon Corp boosted its position in PagerDuty by 12.4% in the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company’s stock worth $16,531,000 after purchasing an additional 100,207 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in PagerDuty by 12.4% in the 4th quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company’s stock worth $347,000 after purchasing an additional 2,100 shares in the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Trading Up 0.1 %

PD stock opened at $18.87 on Monday. PagerDuty, Inc. has a 12-month low of $15.49 and a 12-month high of $23.40. The business’s 50-day moving average is $18.34 and its 200 day moving average is $18.66. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -23.59 and a beta of 1.12.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same period in the previous year, the company posted $0.17 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. On average, sell-side analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty announced that its Board of Directors has initiated a share buyback plan on Thursday, March 13th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the company to buy up to 10.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction that occurred on Tuesday, January 28th. The stock was 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 trade represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shelley Webb sold 7,879 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the sale, the insider now owns 199,122 shares of the company’s stock, valued at approximately $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 have sold a total of 10,048 shares of company stock valued at $186,699 in the last 90 days. 7.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PD. Bank of America lowered 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 report on Thursday, January 30th. Truist Financial cut their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Royal Bank of Canada cut their price target on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Finally, Canaccord Genuity Group lowered their price target on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, PagerDuty currently has an average rating of “Hold” and a consensus target price of $20.73.

PagerDuty Company 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.