Rhumbline Advisers Acquires 4,940 Shares of PagerDuty, Inc. (NYSE:PD)

Rhumbline Advisers boosted its position in shares of PagerDuty, Inc. (NYSE:PD) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 136,343 shares of the company’s stock after purchasing an additional 4,940 shares during the period. Rhumbline Advisers owned about 0.15% of PagerDuty worth $2,491,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PD. Venturi Wealth Management LLC bought a new position in shares of PagerDuty during the 4th quarter worth $43,000. Picton Mahoney Asset Management bought a new position in PagerDuty during the 4th quarter worth about $58,000. Point72 Asia Singapore Pte. Ltd. bought a new position in PagerDuty during the 4th quarter worth about $130,000. Vinva Investment Management Ltd bought a new position in shares of PagerDuty during the fourth quarter valued at approximately $139,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock valued at $184,000 after purchasing an additional 1,965 shares in the last quarter. Institutional investors own 97.26% of the company’s stock.

Analyst Upgrades and Downgrades

PD has been the subject of several recent analyst reports. Canaccord Genuity Group lowered their price target on PagerDuty from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, June 2nd. The Goldman Sachs Group reduced their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Morgan Stanley cut 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. Royal Bank of Canada cut their price objective on PagerDuty from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PagerDuty from $21.00 to $18.00 and set an “underweight” rating for the company in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.50.

PagerDuty Stock Performance

PagerDuty stock opened at $14.69 on Tuesday. The firm has a market capitalization of $1.34 billion, a P/E ratio of -18.36 and a beta of 0.88. The stock has a fifty day moving average price of $15.61 and a 200 day moving average price of $17.48. PagerDuty, Inc. has a 52 week low of $13.94 and a 52 week high of $23.12. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $118.98 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.17 EPS. Equities research analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty announced that its Board of Directors has authorized a share repurchase plan on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to reacquire up to 10.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.