PagerDuty, Inc. (NYSE:PD) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC lifted its position in PagerDuty, Inc. (NYSE:PD) by 44.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 709,154 shares of the company’s stock after acquiring an additional 218,674 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in PagerDuty were worth $12,949,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PD. Venturi Wealth Management LLC acquired a new position in shares of PagerDuty in the fourth quarter worth about $43,000. Picton Mahoney Asset Management purchased a new position in shares of PagerDuty in the 4th quarter valued at about $58,000. Vinva Investment Management Ltd purchased a new position in shares of PagerDuty in the 4th quarter valued at about $139,000. PNC Financial Services Group Inc. raised its holdings in PagerDuty by 24.3% in the 4th 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 boosted its position 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 in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on PD. Royal Bank of Canada cut their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Canaccord Genuity Group reduced their price objective on shares of PagerDuty from $24.00 to $23.00 and set a “buy” rating for the company in a research report on Friday, March 14th. Truist Financial dropped their target price on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Finally, Morgan Stanley lowered their price objective on PagerDuty from $20.00 to $17.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.55.

PagerDuty Stock Down 0.3 %

Shares of NYSE:PD opened at $15.10 on Wednesday. PagerDuty, Inc. has a 52-week low of $14.30 and a 52-week high of $23.12. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52. The business has a fifty day moving average of $16.66 and a two-hundred day moving average of $18.21. The stock has a market cap of $1.38 billion, a P/E ratio of -18.88 and a beta of 0.99.

PagerDuty (NYSE:PD) last released its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same period last year, the business earned $0.17 earnings per share. PagerDuty’s revenue was up 9.3% compared to the same quarter last year. On average, research analysts expect that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

PagerDuty announced that its board has initiated a stock repurchase program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to buy up to 10.7% of its shares through open market purchases. Shares buyback programs are usually 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.