IQ EQ FUND MANAGEMENT IRELAND Ltd Buys 22,305 Shares of PagerDuty, Inc. (NYSE:PD)

IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in PagerDuty, Inc. (NYSE:PD) by 135.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,829 shares of the company’s stock after purchasing an additional 22,305 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in PagerDuty were worth $709,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of PD. Point72 Asset Management L.P. raised its position in PagerDuty by 1.4% during the third quarter. Point72 Asset Management L.P. now owns 58,377 shares of the company’s stock valued at $1,083,000 after purchasing an additional 819 shares in the last quarter. Quarry LP raised its holdings in shares of PagerDuty by 98.3% during the 3rd quarter. Quarry LP now owns 2,792 shares of the company’s stock worth $52,000 after buying an additional 1,384 shares in the last quarter. Fred Alger Management LLC lifted 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 worth $76,000 after buying an additional 1,594 shares during the last quarter. Franklin Resources Inc. boosted its stake in PagerDuty by 5.4% in the third quarter. Franklin Resources Inc. now owns 32,915 shares of the company’s stock valued at $614,000 after buying an additional 1,701 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in PagerDuty by 24.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock valued at $184,000 after acquiring an additional 1,965 shares during the last quarter. Institutional investors and hedge funds own 97.26% of the company’s stock.

PagerDuty Price Performance

PagerDuty stock opened at $18.78 on Friday. The stock’s 50 day moving average is $18.44 and its 200 day moving average is $18.69. PagerDuty, Inc. has a one year low of $15.49 and a one year high of $23.40. The firm has a market cap of $1.71 billion, a P/E ratio of -23.47 and a beta of 1.12. 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) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.22 EPS 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 company had revenue of $121.45 million for the quarter, compared to analyst estimates of $119.53 million. During the same period in the prior year, the firm posted $0.17 EPS. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts expect that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has initiated a stock repurchase program on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 10.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Jennifer Tejada sold 1,569 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were 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. The trade was 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 stock in a transaction on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now directly 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. In the last ninety days, insiders sold 10,048 shares of company stock worth $186,699. Company insiders own 7.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PD. Bank of America cut shares of PagerDuty from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Truist Financial dropped their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, March 14th. Royal Bank of Canada decreased their target price on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Canaccord Genuity Group lowered their price target 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. Finally, The Goldman Sachs Group cut their price objective on PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a report 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.73.

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.