Vinva Investment Management Ltd Invests $139,000 in PagerDuty, Inc. (NYSE:PD)

Vinva Investment Management Ltd acquired a new position in PagerDuty, Inc. (NYSE:PD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,597 shares of the company’s stock, valued at approximately $139,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in PagerDuty during the third quarter valued at $845,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in PagerDuty by 4.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 489,905 shares of the company’s stock valued at $9,088,000 after purchasing an additional 21,126 shares during the last quarter. Intech Investment Management LLC bought a new position in PagerDuty during the third quarter valued at $444,000. Algert Global LLC lifted its position in PagerDuty by 98.9% during the third quarter. Algert Global LLC now owns 67,856 shares of the company’s stock valued at $1,259,000 after purchasing an additional 33,740 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in PagerDuty during the third quarter valued at $1,645,000. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Trading Up 0.1 %

PD stock opened at $18.87 on Friday. The company has a market capitalization of $1.70 billion, a PE ratio of -23.59 and a beta of 1.12. PagerDuty, Inc. has a 12 month low of $15.49 and a 12 month high of $23.40. The firm’s 50-day moving average is $18.34 and its 200 day moving average is $18.65. 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 results on Thursday, March 13th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.16 by $0.06. The company had revenue of $121.45 million for the quarter, compared to the consensus estimate of $119.53 million. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The firm’s revenue was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.17 EPS. On average, research analysts anticipate that PagerDuty, Inc. will post -0.27 EPS for the current year.

PagerDuty declared that its Board of Directors has initiated a share 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 reacquire up to 10.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other PagerDuty news, insider Shelley Webb sold 7,879 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $18.19, for a total transaction of $143,319.01. Following the transaction, the insider now owns 199,122 shares of the company’s stock, valued at approximately $3,622,029.18. This trade represents a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jennifer Tejada sold 1,569 shares of the firm’s stock in a transaction dated 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 directly owns 868,311 shares in the company, valued at $17,366,220. This trade represents a 0.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,048 shares of company stock valued at $186,699 in the last 90 days. Company insiders own 7.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on PD shares. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $21.00 price objective on shares of PagerDuty in a research report on Wednesday, December 11th. Royal Bank of Canada lowered their price objective on shares of PagerDuty from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. The Goldman Sachs Group lowered their price objective on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Friday, March 14th. Bank of America lowered shares of PagerDuty from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $23.00 to $18.00 in a report on Thursday, January 30th. Finally, Canaccord Genuity Group lowered their target price 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 issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.