Royal Bank of Canada Trims Stake in PagerDuty $PD

Royal Bank of Canada reduced its position in PagerDuty (NYSE:PD) by 74.9% in the 1st quarter, Holdings Channel reports. The firm owned 16,784 shares of the company’s stock after selling 50,171 shares during the period. Royal Bank of Canada’s holdings in PagerDuty were worth $103,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in PD. AQR Capital Management LLC increased its position in PagerDuty by 110.6% during the first quarter. AQR Capital Management LLC now owns 147,127 shares of the company’s stock worth $2,679,000 after buying an additional 77,251 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PagerDuty by 1.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,601 shares of the company’s stock valued at $943,000 after acquiring an additional 671 shares during the period. Millennium Management LLC boosted its holdings in shares of PagerDuty by 55.4% in the first quarter. Millennium Management LLC now owns 1,005,111 shares of the company’s stock valued at $18,363,000 after acquiring an additional 358,347 shares during the period. Woodline Partners LP purchased a new position in shares of PagerDuty during the first quarter worth approximately $556,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of PagerDuty by 19.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 279,941 shares of the company’s stock worth $5,115,000 after acquiring an additional 46,262 shares during the last quarter. 97.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on PD. UBS Group set a $13.50 target price on shares of PagerDuty in a report on Wednesday, August 26th. Wall Street Zen cut shares of PagerDuty from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Weiss Ratings raised shares of PagerDuty from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, August 21st. TD Cowen restated a “buy” rating on shares of PagerDuty in a research note on Wednesday, August 26th. Finally, Royal Bank Of Canada upped their target price on shares of PagerDuty from $9.00 to $12.00 and gave the company a “sector perform” rating in a report on Friday, August 14th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, PagerDuty currently has a consensus rating of “Hold” and a consensus target price of $12.94.

PagerDuty Trading Up 1.9%

Shares of PD stock opened at $14.09 on Tuesday. The company has a market capitalization of $1.11 billion, a P/E ratio of 7.04, a price-to-earnings-growth ratio of 3.55 and a beta of 0.93. The company has a current ratio of 2.02, a quick ratio of 2.02 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average is $10.80 and its two-hundred day moving average is $8.49. PagerDuty has a twelve month low of $5.70 and a twelve month high of $17.29.

PagerDuty (NYSE:PD) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.31 by $0.01. PagerDuty had a return on equity of 18.52% and a net margin of 37.50%.The business had revenue of $124.44 million during the quarter, compared to analysts’ expectations of $123.27 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company’s quarterly revenue was up .8% compared to the same quarter last year. PagerDuty has set its FY 2027 guidance at 1.330-1.370 EPS and its Q3 2027 guidance at 0.340-0.360 EPS. Equities analysts forecast that PagerDuty will post 0.58 EPS for the current year.

PagerDuty announced that its board has approved a stock buyback program on Thursday, May 28th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 16.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

About PagerDuty

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.