Palogic Value Management L.P. Invests $1.21 Million in PagerDuty $PD

Palogic Value Management L.P. bought a new position in PagerDuty (NYSE:PD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 125,253 shares of the company’s stock, valued at approximately $1,209,000. Palogic Value Management L.P. owned approximately 0.16% of PagerDuty at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. WealthCollab LLC acquired a new position in PagerDuty in the first quarter worth approximately $25,000. PNC Financial Services Group Inc. lifted its position in shares of PagerDuty by 1,219.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,976 shares of the company’s stock valued at $31,000 after acquiring an additional 4,599 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of PagerDuty by 419.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 5,136 shares of the company’s stock worth $32,000 after acquiring an additional 4,147 shares in the last quarter. Optiver Holding B.V. boosted its stake in shares of PagerDuty by 5,699.0% during the 1st quarter. Optiver Holding B.V. now owns 6,031 shares of the company’s stock worth $37,000 after acquiring an additional 5,927 shares in the last quarter. Finally, Kestra Advisory Services LLC bought a new stake in shares of PagerDuty during the 4th quarter worth $68,000. 97.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PD shares. Wall Street Zen lowered PagerDuty from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Royal Bank Of Canada increased their price target on PagerDuty from $9.00 to $12.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. UBS Group set a $13.50 price target on PagerDuty in a research note on Wednesday. Morgan Stanley lowered shares of PagerDuty from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $10.00 to $9.00 in a research note on Tuesday, July 21st. Finally, Weiss Ratings upgraded shares of PagerDuty from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $12.28.

PagerDuty Price Performance

PD opened at $12.16 on Thursday. The stock has a fifty day moving average of $10.49 and a 200-day moving average of $8.37. The firm has a market capitalization of $937.78 million, a P/E ratio of 5.96, a PEG ratio of 3.14 and a beta of 0.93. PagerDuty has a 12-month low of $5.70 and a 12-month high of $17.29. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.83.

PagerDuty (NYSE:PD) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.08. The business had revenue of $120.97 million for the quarter, compared to the consensus estimate of $119.52 million. PagerDuty had a return on equity of 18.20% and a net margin of 38.60%.PagerDuty’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. Equities analysts forecast that PagerDuty will post 0.58 EPS for the current fiscal year.

PagerDuty declared that its Board of Directors has approved a share buyback plan on Thursday, May 28th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 16.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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. Its platform includes PagerDuty Incident Management that provides a real-time view across the status of a digital service while incorporating noise reduction to remove false positives; AIOps that applies machine learning to correlate and automate the identification of incidents from billions of events; Process Automation offers centralized design time and run time environment for orchestrating automated workflows that span across departments, technologies, and networks; Customer Service Operations, which is offered to orchestrate, automate, and scale responses to customer impacting issues.