Palogic Value Management L.P. Invests $1.21 Million in PagerDuty $PD

Palogic Value Management L.P. acquired a new position in shares of PagerDuty (NYSE:PDFree Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 125,253 shares of the company’s stock, valued at approximately $1,209,000.

Other institutional investors have also recently bought and sold shares of the company. Ameriprise Financial Inc. grew its stake in PagerDuty by 333.2% in the third quarter. Ameriprise Financial Inc. now owns 1,450,429 shares of the company’s stock valued at $23,961,000 after purchasing an additional 1,115,577 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of PagerDuty during the 1st quarter worth about $6,074,000. Alyeska Investment Group L.P. acquired a new stake in shares of PagerDuty during the 3rd quarter valued at about $13,710,000. Danske Bank A S acquired a new stake in shares of PagerDuty during the 3rd quarter valued at about $13,271,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of PagerDuty during the 2nd quarter valued at about $7,629,000. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Stock Performance

Shares of NYSE PD opened at $12.16 on Thursday. The business’s 50-day simple moving average is $10.49 and its 200-day simple moving average is $8.37. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.95 and a current ratio of 1.95. PagerDuty has a 52 week low of $5.70 and a 52 week high of $17.29. The firm has a market cap of $937.78 million, a price-to-earnings ratio of 5.96, a P/E/G ratio of 3.14 and a beta of 0.93.

PagerDuty (NYSE:PDGet Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.08. The firm had revenue of $120.97 million during the quarter, compared to analyst estimates of $119.52 million. PagerDuty had a return on equity of 18.20% and a net margin of 38.60%.The company’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. As a group, equities research analysts expect that PagerDuty will post 0.58 earnings per share for the current fiscal year.

PagerDuty declared that its board has initiated a share repurchase plan on Thursday, May 28th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 16.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PD. Wall Street Zen downgraded PagerDuty from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Truist Financial lifted their target price on shares of PagerDuty from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. UBS Group set a $13.50 target price on shares of PagerDuty in a research report on Wednesday. TD Cowen restated a “buy” rating on shares of PagerDuty in a research note on Wednesday. Finally, Weiss Ratings upgraded shares of PagerDuty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.28.

Get Our Latest Stock Analysis on PD

PagerDuty Company Profile

(Free Report)

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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.

Further Reading

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Institutional Ownership by Quarter for PagerDuty (NYSE:PD)

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