Northern Trust Corp Sells 52,266 Shares of PagerDuty $PD

Northern Trust Corp cut its stake in shares of PagerDuty (NYSE:PD) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 854,808 shares of the company’s stock after selling 52,266 shares during the quarter. Northern Trust Corp owned approximately 0.94% of PagerDuty worth $15,617,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of PagerDuty during the first quarter worth about $33,000. Algert Global LLC raised its holdings in PagerDuty by 512.5% during the 1st quarter. Algert Global LLC now owns 397,212 shares of the company’s stock worth $7,257,000 after purchasing an additional 332,363 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in PagerDuty by 7,117.3% during the 1st quarter. Russell Investments Group Ltd. now owns 33,705 shares of the company’s stock worth $616,000 after purchasing an additional 33,238 shares during the last quarter. Nuveen LLC acquired a new position in shares of PagerDuty in the 1st quarter worth approximately $13,018,000. Finally, Entropy Technologies LP acquired a new position in shares of PagerDuty in the 1st quarter worth approximately $258,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Price Performance

PD stock opened at $16.11 on Wednesday. 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 company’s 50-day moving average is $15.69 and its 200-day moving average is $16.14. The stock has a market capitalization of $1.47 billion, a PE ratio of -40.28, a price-to-earnings-growth ratio of 10.04 and a beta of 0.88. PagerDuty has a 1 year low of $13.69 and a 1 year high of $21.98.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PD. Royal Bank Of Canada lowered their target price on shares of PagerDuty from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, May 30th. TD Securities decreased their price target on PagerDuty from $19.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, May 21st. JPMorgan Chase & Co. dropped their price objective on PagerDuty from $21.00 to $18.00 and set an “underweight” rating on the stock in a research note on Friday, May 30th. Wall Street Zen upgraded PagerDuty from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Canaccord Genuity Group lowered their target price on PagerDuty from $23.00 to $21.00 and set a “buy” rating for the company in a report on Monday, June 2nd. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.75.

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.