Bank of New York Mellon Corp Has $18.46 Million Stake in PagerDuty (NYSE:PD)

Bank of New York Mellon Corp increased its stake in shares of PagerDuty (NYSE:PD) by 11.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,010,175 shares of the company’s stock after acquiring an additional 104,838 shares during the period. Bank of New York Mellon Corp owned 1.11% of PagerDuty worth $18,456,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Marshall Wace LLP lifted its position in shares of PagerDuty by 989.0% during the 4th quarter. Marshall Wace LLP now owns 721,953 shares of the company’s stock worth $13,183,000 after buying an additional 655,655 shares during the period. Two Sigma Investments LP increased its stake in shares of PagerDuty by 1,222.8% in the 4th quarter. Two Sigma Investments LP now owns 431,252 shares of the company’s stock valued at $7,875,000 after buying an additional 398,650 shares during the period. Two Sigma Advisers LP bought a new stake in shares of PagerDuty during the fourth quarter worth $6,734,000. Raymond James Financial Inc. bought a new stake in shares of PagerDuty during the fourth quarter worth $6,574,000. Finally, Scalar Gauge Management LLC bought a new stake in shares of PagerDuty during the fourth quarter worth $5,993,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PD. JPMorgan Chase & Co. decreased their price objective on PagerDuty from $21.00 to $18.00 and set an “underweight” rating for the company in a research note on Friday, May 30th. Truist Financial decreased their target price on PagerDuty from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Royal Bank Of Canada reduced 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. Canaccord Genuity Group dropped their target price on PagerDuty from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Monday, June 2nd. Finally, 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. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, PagerDuty has a consensus rating of “Hold” and an average target price of $19.50.

PagerDuty Trading Down 0.2%

Shares of NYSE:PD opened at $14.62 on Friday. The company has a market capitalization of $1.33 billion, a P/E ratio of -36.55, a P/E/G ratio of 8.79 and a beta of 0.89. PagerDuty has a 1 year low of $13.70 and a 1 year high of $22.02. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.02 and a quick ratio of 2.02. The business’s 50 day simple moving average is $15.42 and its 200 day simple moving average is $16.75.

PagerDuty (NYSE:PD) last issued its earnings results on Thursday, May 29th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The firm had revenue of $119.81 million for the quarter, compared to the consensus estimate of $118.98 million. PagerDuty had a negative return on equity of 8.73% and a negative net margin of 7.75%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS. On average, research analysts anticipate that PagerDuty will post -0.27 EPS for the current fiscal year.

About PagerDuty

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.