Raymond James Financial Inc. Takes Position in PagerDuty, Inc. (NYSE:PD)

Raymond James Financial Inc. purchased a new position in shares of PagerDuty, Inc. (NYSE:PD - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 360,003 shares of the company's stock, valued at approximately $6,574,000. Raymond James Financial Inc. owned 0.40% of PagerDuty at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. increased its holdings in shares of PagerDuty by 285.8% during the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock worth $23,444,000 after buying an additional 936,257 shares in the last quarter. Loomis Sayles & Co. L P increased its stake in shares of PagerDuty by 33.4% in the third quarter. Loomis Sayles & Co. L P now owns 808,365 shares of the company's stock valued at $14,995,000 after buying an additional 202,382 shares during the period. Barclays PLC raised its holdings in PagerDuty by 24.2% in the 3rd quarter. Barclays PLC now owns 901,120 shares of the company's stock valued at $16,716,000 after buying an additional 175,733 shares during the last quarter. Edgestream Partners L.P. raised its holdings in PagerDuty by 297.0% in the 3rd quarter. Edgestream Partners L.P. now owns 219,294 shares of the company's stock valued at $4,068,000 after buying an additional 164,061 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in PagerDuty by 12.4% during the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock worth $16,531,000 after buying an additional 100,207 shares during the period. Institutional investors and hedge funds own 97.26% of the company's stock.

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PagerDuty Stock Down 1.7 %

PD traded down $0.34 during midday trading on Thursday, hitting $19.03. The company had a trading volume of 838,925 shares, compared to its average volume of 1,030,790. The stock's 50 day moving average price is $18.42 and its 200 day moving average price is $18.68. PagerDuty, Inc. has a 52 week low of $15.49 and a 52 week high of $23.40. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of -23.78 and a beta of 1.12. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 3.52.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.06. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. The business had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. During the same period in the prior year, the business earned $0.17 EPS. The firm's revenue for the quarter was up 9.3% on a year-over-year basis. On average, research analysts anticipate that PagerDuty, Inc. will post -0.27 earnings per share for the current fiscal year.

PagerDuty announced that its board has approved a stock buyback plan on Thursday, March 13th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 10.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

PD has been the subject of several recent research reports. JPMorgan Chase & Co. restated an "underweight" rating and issued a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Canaccord Genuity Group lowered their target price on PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group cut their target price on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. Bank of America downgraded PagerDuty from a "buy" rating to an "underperform" rating and lowered their price objective for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. Finally, Truist Financial reduced their target price on PagerDuty from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PagerDuty currently has an average rating of "Hold" and a consensus target price of $20.73.

Insider Buying and Selling at PagerDuty

In other news, CEO Jennifer Tejada sold 1,569 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares of the company's stock, valued at $17,366,220. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shelley Webb sold 7,879 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares in the company, valued at $3,622,029.18. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,048 shares of company stock worth $186,699. 7.60% of the stock is owned by corporate insiders.

PagerDuty Company 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.