Connor Clark & Lunn Investment Management Ltd. Has $10.58 Million Stock Position in PagerDuty, Inc. (NYSE:PD)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in PagerDuty, Inc. (NYSE:PD - Free Report) by 18.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 579,305 shares of the company's stock after purchasing an additional 89,400 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.64% of PagerDuty worth $10,578,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of PD. Venturi Wealth Management LLC acquired a new position in PagerDuty in the fourth quarter valued at about $43,000. Quarry LP boosted its stake in PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company's stock worth $52,000 after acquiring an additional 1,384 shares during the last quarter. Fred Alger Management LLC grew its holdings in PagerDuty by 63.7% during the third quarter. Fred Alger Management LLC now owns 4,097 shares of the company's stock valued at $76,000 after purchasing an additional 1,594 shares during the period. Point72 DIFC Ltd acquired a new position in shares of PagerDuty in the 3rd quarter valued at $163,000. Finally, PNC Financial Services Group Inc. increased 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 in the last quarter. 97.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PD has been the subject of several research reports. Truist Financial lowered their price objective on shares of PagerDuty from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group cut their price target on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Friday, March 14th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $21.00 price target on shares of PagerDuty in a research report on Wednesday, December 11th. Royal Bank of Canada lowered their price objective on shares of PagerDuty from $24.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Finally, Canaccord Genuity Group reduced their target price on shares of PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.73.

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Insider Buying and Selling at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of the firm's stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $20.00, for a total transaction of $31,380.00. Following the transaction, the chief executive officer now owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shelley Webb sold 7,879 shares of the business'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 transaction of $143,319.01. Following the completion of the transaction, the insider now owns 199,122 shares of the company's stock, valued at $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,048 shares of company stock valued at $186,699 in the last three months. 7.60% of the stock is currently owned by company insiders.

PagerDuty Stock Performance

NYSE:PD traded up $0.38 during mid-day trading on Wednesday, hitting $18.89. The stock had a trading volume of 1,548,552 shares, compared to its average volume of 1,032,721. PagerDuty, Inc. has a twelve month low of $15.49 and a twelve month high of $23.85. 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 stock has a market cap of $1.70 billion, a price-to-earnings ratio of -23.61 and a beta of 1.12. The company's 50 day simple moving average is $18.27 and its 200 day simple moving average is $18.65.

PagerDuty (NYSE:PD - Get Free Report) last posted its 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 analyst estimates of $119.53 million. During the same period in the previous year, the firm earned $0.17 EPS. The firm's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts forecast that PagerDuty, Inc. will post -0.27 earnings per share for the current year.

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

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.