Loomis Sayles & Co. L P Increases Stock Position in PagerDuty, Inc. (NYSE:PD)

Loomis Sayles & Co. L P boosted its holdings in PagerDuty, Inc. (NYSE:PD) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 812,609 shares of the company’s stock after acquiring an additional 4,244 shares during the quarter. Loomis Sayles & Co. L P’s holdings in PagerDuty were worth $14,838,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Venturi Wealth Management LLC bought a new position in shares of PagerDuty in the fourth quarter valued at approximately $43,000. Quarry LP lifted its stake in PagerDuty by 98.3% in the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after purchasing an additional 1,384 shares in the last quarter. Picton Mahoney Asset Management bought a new position in PagerDuty in the 4th quarter valued at $58,000. Fred Alger Management LLC grew its position in shares of PagerDuty by 63.7% during the 3rd 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 in the last quarter. Finally, Vinva Investment Management Ltd bought a new position in shares of PagerDuty in the fourth quarter worth $139,000. Institutional investors own 97.26% of the company’s stock.

PagerDuty Stock Performance

NYSE PD opened at $18.78 on Friday. The company has a 50-day simple moving average of $18.44 and a two-hundred day simple moving average of $18.69. PagerDuty, Inc. has a 12-month low of $15.49 and a 12-month high of $23.40. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -23.47 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) last issued its earnings results on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.06. The company had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. PagerDuty had a negative return on equity of 22.02% and a negative net margin of 16.29%. PagerDuty’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. On average, equities analysts forecast that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has initiated a share buyback plan on Thursday, March 13th that authorizes the company to buyback $150.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 10.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at PagerDuty

In other PagerDuty 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 owns 868,311 shares in the company, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total value of $143,319.01. Following the completion of the sale, the insider now owns 199,122 shares in the company, valued at approximately $3,622,029.18. This represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,048 shares of company stock worth $186,699. Insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

PD has been the subject of several research analyst reports. 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 research note on Thursday, January 30th. Royal Bank of Canada cut their price objective on PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, March 14th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. The Goldman Sachs Group cut their price target on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Friday, March 14th. Finally, Canaccord Genuity Group dropped their price objective 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $20.73.

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.