Man Group plc Makes New $388,000 Investment in PagerDuty, Inc. (NYSE:PD)

Man Group plc purchased a new position in shares of PagerDuty, Inc. (NYSE:PD) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,248 shares of the company’s stock, valued at approximately $388,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PD. Barclays PLC lifted its position in PagerDuty by 24.2% during the 3rd quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after acquiring an additional 175,733 shares during the period. Blue Trust Inc. lifted its holdings in shares of PagerDuty by 24.8% in the 4th quarter. Blue Trust Inc. now owns 14,796 shares of the company’s stock valued at $274,000 after buying an additional 2,938 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of PagerDuty by 7.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company’s stock valued at $15,051,000 after buying an additional 55,233 shares during the period. Venturi Wealth Management LLC acquired a new position in shares of PagerDuty in the 4th quarter valued at about $43,000. Finally, Handelsbanken Fonder AB lifted its holdings in shares of PagerDuty by 12.4% in the 4th quarter. Handelsbanken Fonder AB now owns 19,000 shares of the company’s stock valued at $347,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Trading Down 0.7%

PD opened at $15.94 on Tuesday. PagerDuty, Inc. has a one year low of $14.30 and a one year high of $23.12. The stock has a market capitalization of $1.45 billion, a PE ratio of -19.92 and a beta of 0.99. The business’s 50 day moving average price is $16.32 and its 200 day moving average price is $17.97. 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 results on Thursday, March 13th. The company reported $0.22 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 company had revenue of $121.45 million for the quarter, compared to analysts’ expectations of $119.53 million. During the same period in the prior year, the firm earned $0.17 earnings per share. The firm’s revenue was up 9.3% compared to the same quarter last year. As a group, equities research analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its board has approved a share repurchase program on Thursday, March 13th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada decreased their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Bank of America lowered PagerDuty from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $23.00 to $18.00 in a research note on Thursday, January 30th. TD Securities dropped their price target on PagerDuty from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. The Goldman Sachs Group dropped their price target on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Finally, Morgan Stanley dropped their price target on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, PagerDuty currently has an average rating of “Hold” and an average target price of $20.33.

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.