ArrowMark Colorado Holdings LLC Acquires 34,938 Shares of PagerDuty, Inc. (NYSE:PD)

ArrowMark Colorado Holdings LLC lifted its stake in shares of PagerDuty, Inc. (NYSE:PD) by 7.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 523,042 shares of the company’s stock after acquiring an additional 34,938 shares during the period. ArrowMark Colorado Holdings LLC owned 0.58% of PagerDuty worth $9,551,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PD. Venturi Wealth Management LLC bought a new position in PagerDuty during the 4th quarter valued at $43,000. Picton Mahoney Asset Management purchased a new stake in PagerDuty during the fourth quarter valued at about $58,000. Vinva Investment Management Ltd bought a new position in PagerDuty in the 4th quarter worth approximately $139,000. PNC Financial Services Group Inc. boosted its holdings in shares of PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock worth $184,000 after acquiring an additional 1,965 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in PagerDuty by 22.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 13,700 shares of the company’s stock worth $247,000 after purchasing an additional 2,500 shares during the period. Institutional investors own 97.26% of the company’s stock.

Analysts Set New Price Targets

PD has been the topic of a number of research analyst reports. Canaccord Genuity Group decreased their target price on PagerDuty from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Morgan Stanley lowered their price objective 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. The Goldman Sachs Group cut their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Truist Financial cut their price objective on PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Royal Bank of Canada decreased their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.55.

PagerDuty Trading Down 0.3 %

Shares of NYSE:PD opened at $15.50 on Friday. 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, Inc. has a 52-week low of $14.30 and a 52-week high of $23.12. The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -19.37 and a beta of 0.99. The stock’s 50-day simple moving average is $16.77 and its two-hundred day simple moving average is $18.26.

PagerDuty (NYSE:PD) last released its 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 net margin of 16.29% and a negative return on equity of 22.02%. The company had revenue of $121.45 million for the quarter, compared to analysts’ expectations of $119.53 million. During the same quarter last year, the business earned $0.17 EPS. The firm’s revenue was up 9.3% compared to the same quarter last year. Analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current year.

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

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.