360,003 Shares in PagerDuty, Inc. (NYSE:PD) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in shares of PagerDuty, Inc. (NYSE:PD - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 360,003 shares of the company's stock, valued at approximately $6,574,000. Raymond James Financial Inc. owned approximately 0.40% of PagerDuty at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in PagerDuty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company's stock worth $39,915,000 after acquiring an additional 37,147 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PagerDuty by 285.8% during the 3rd 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 during the last quarter. Bank of New York Mellon Corp raised its position in shares of PagerDuty by 12.4% during the 4th quarter. Bank of New York Mellon Corp now owns 905,337 shares of the company's stock valued at $16,531,000 after buying an additional 100,207 shares during the period. Barclays PLC increased its stake in PagerDuty by 24.2% during the third quarter. Barclays PLC now owns 901,120 shares of the company's stock worth $16,716,000 after acquiring an additional 175,733 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in PagerDuty by 7.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 824,250 shares of the company's stock valued at $15,051,000 after purchasing an additional 55,233 shares during the period. Hedge funds and other institutional investors own 97.26% of the company's stock.

PagerDuty Stock Up 0.3 %

Shares of PD traded up $0.04 during mid-day trading on Friday, reaching $15.72. The company's stock had a trading volume of 1,281,172 shares, compared to its average volume of 1,074,029. The company's 50 day moving average is $17.03 and its 200 day moving average is $18.36. PagerDuty, Inc. has a 12-month low of $14.30 and a 12-month high of $23.12. The stock has a market cap of $1.43 billion, a PE ratio of -19.65 and a beta of 1.06. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97.

PagerDuty (NYSE:PD - Get Free Report) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $119.53 million. During the same period last year, the firm posted $0.17 EPS. PagerDuty's quarterly revenue was up 9.3% on a year-over-year basis. Equities analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has initiated a stock buyback program on Thursday, March 13th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the company to repurchase up to 10.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other news, CEO Jennifer Tejada sold 1,569 shares of the business's 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 in the company, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Bank of America downgraded PagerDuty from a "buy" rating to an "underperform" rating and cut their price objective for the stock from $23.00 to $18.00 in a research report on Thursday, January 30th. 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. Morgan Stanley decreased their price target on PagerDuty from $20.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group dropped their price objective on PagerDuty from $24.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Finally, The Goldman Sachs Group decreased their target price on PagerDuty from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $20.55.

PagerDuty 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.