PagerDuty, Inc. (NYSE:PD) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its position in PagerDuty, Inc. (NYSE:PD - Free Report) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 206,414 shares of the company's stock after selling 45,778 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.23% of PagerDuty worth $3,765,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its position in PagerDuty by 285.8% during the third quarter. JPMorgan Chase & Co. now owns 1,263,841 shares of the company's stock valued at $23,444,000 after acquiring an additional 936,257 shares in the last quarter. Marshall Wace LLP raised its position in PagerDuty by 989.0% during the fourth quarter. Marshall Wace LLP now owns 721,953 shares of the company's stock valued at $13,183,000 after acquiring an additional 655,655 shares in the last quarter. Raymond James Financial Inc. purchased a new position in PagerDuty during the fourth quarter valued at approximately $6,574,000. Scalar Gauge Management LLC purchased a new position in PagerDuty during the fourth quarter valued at approximately $5,993,000. Finally, Norges Bank purchased a new position in PagerDuty during the fourth quarter valued at approximately $4,914,000. 97.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PD. Morgan Stanley reduced their price target 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. Royal Bank of Canada reduced their price target on PagerDuty from $24.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group dropped their price objective 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 lowered PagerDuty from a "buy" rating to an "underperform" rating and dropped their price objective for the company from $23.00 to $18.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group dropped their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $20.55.

PagerDuty Price Performance

Shares of NYSE:PD traded up $0.03 during trading on Tuesday, reaching $15.73. The stock had a trading volume of 1,103,002 shares, compared to its average volume of 1,074,139. The company has a debt-to-equity ratio of 3.52, a quick ratio of 1.97 and a current ratio of 1.97. The business has a fifty day moving average price of $16.97 and a 200-day moving average price of $18.35. The stock has a market cap of $1.43 billion, a PE ratio of -19.66 and a beta of 1.06. PagerDuty, Inc. has a 1-year low of $14.30 and a 1-year high of $23.12.

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

PagerDuty declared that its board has authorized a share buyback program on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is 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.