PagerDuty (NYSE:PD) Sees Strong Trading Volume – Time to Buy?

PagerDuty, Inc. (NYSE:PD) saw unusually-high trading volume on Tuesday . Approximately 1,760,708 shares traded hands during mid-day trading, an increase of 56% from the previous session’s volume of 1,126,710 shares.The stock last traded at $21.42 and had previously closed at $21.65.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PD. Scotiabank decreased their target price on PagerDuty from $23.00 to $18.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 4th. The Goldman Sachs Group reduced their price target on shares of PagerDuty from $24.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. TD Cowen dropped their target price on PagerDuty from $23.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, September 4th. Canaccord Genuity Group dropped their price target on shares of PagerDuty from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada lifted their price objective on PagerDuty from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, PagerDuty presently has an average rating of “Hold” and a consensus price target of $22.00.

PagerDuty Trading Down 1.4 %

The firm’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $19.60. The company has a debt-to-equity ratio of 2.38, a current ratio of 2.13 and a quick ratio of 2.13.

PagerDuty (NYSE:PD) last announced its earnings results on Tuesday, September 3rd. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.04. PagerDuty had a negative return on equity of 20.13% and a negative net margin of 16.29%. The firm had revenue of $115.94 million for the quarter, compared to analysts’ expectations of $116.52 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. PagerDuty’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts predict that PagerDuty, Inc. will post -0.37 EPS for the current fiscal year.

Insider Activity at PagerDuty

In related news, CEO Jennifer Tejada sold 38,392 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $20.05, for a total value of $769,759.60. Following the sale, the chief executive officer now directly owns 907,631 shares of the company’s stock, valued at approximately $18,198,001.55. This trade represents a 4.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mitra Rezvan sold 2,942 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $18.06, for a total transaction of $53,132.52. Following the transaction, the chief accounting officer now directly owns 108,449 shares of the company’s stock, valued at $1,958,588.94. This trade represents a 2.64 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,396 shares of company stock valued at $1,733,561. 7.60% of the stock is owned by insiders.

Institutional Trading of PagerDuty

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. increased its position in PagerDuty by 5.4% during the 3rd quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock worth $614,000 after purchasing an additional 1,701 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PagerDuty by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,151,314 shares of the company’s stock valued at $39,915,000 after acquiring an additional 37,147 shares during the period. Aequim Alternative Investments LP lifted its holdings in shares of PagerDuty by 43.8% during the 3rd quarter. Aequim Alternative Investments LP now owns 163,300 shares of the company’s stock valued at $3,029,000 after acquiring an additional 49,700 shares in the last quarter. Barclays PLC boosted its position in shares of PagerDuty by 24.2% in the third quarter. Barclays PLC now owns 901,120 shares of the company’s stock worth $16,716,000 after buying an additional 175,733 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of PagerDuty in the third quarter valued at about $278,000. 97.26% of the stock is currently owned by institutional investors and hedge funds.

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.