Cetera Investment Advisers Has $238,000 Stock Holdings in PagerDuty, Inc. (NYSE:PD)

Cetera Investment Advisers trimmed its stake in shares of PagerDuty, Inc. (NYSE:PD) by 54.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,018 shares of the company’s stock after selling 15,789 shares during the quarter. Cetera Investment Advisers’ holdings in PagerDuty were worth $238,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Venturi Wealth Management LLC acquired a new stake in PagerDuty during the 4th quarter worth about $43,000. Picton Mahoney Asset Management acquired a new stake in PagerDuty during the fourth quarter worth approximately $58,000. Vinva Investment Management Ltd acquired a new stake in PagerDuty during the fourth quarter worth approximately $139,000. PNC Financial Services Group Inc. grew its stake in PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock worth $184,000 after purchasing an additional 1,965 shares during the period. Finally, Pictet Asset Management Holding SA grew its stake in PagerDuty by 35.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 13,631 shares of the company’s stock worth $249,000 after purchasing an additional 3,533 shares during the period. 97.26% of the stock is currently owned by institutional investors and hedge funds.

PagerDuty Stock Down 10.9%

Shares of NYSE PD opened at $14.35 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. PagerDuty, Inc. has a 52 week low of $13.94 and a 52 week high of $23.12. The firm’s fifty day moving average is $16.04 and its 200 day moving average is $17.86. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -17.94 and a beta of 0.99.

PagerDuty (NYSE:PD) last posted its earnings results on Thursday, May 29th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.05. The firm had revenue of $119.81 million for the quarter, compared to analysts’ expectations of $118.98 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business’s revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. On average, equities research analysts expect that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty announced that its board has approved a stock repurchase plan on Thursday, March 13th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. The Goldman Sachs Group reduced their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. reduced their target price on PagerDuty from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday. Morgan Stanley reduced their target price on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Truist Financial reduced their price objective on PagerDuty from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Friday. Finally, Canaccord Genuity Group reduced their price objective on PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.67.

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.