PagerDuty $PD Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in PagerDuty (NYSE:PD) by 40.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 778,838 shares of the company’s stock after selling 528,900 shares during the period. Renaissance Technologies LLC’s holdings in PagerDuty were worth $4,837,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PD. Vanguard Group Inc. increased its position in shares of PagerDuty by 3.8% during the fourth quarter. Vanguard Group Inc. now owns 13,066,929 shares of the company’s stock worth $171,307,000 after purchasing an additional 472,975 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PagerDuty by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 2,113,117 shares of the company’s stock worth $27,708,000 after purchasing an additional 58,881 shares in the last quarter. Ameriprise Financial Inc. grew its stake in PagerDuty by 333.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,450,429 shares of the company’s stock worth $23,961,000 after buying an additional 1,115,577 shares during the last quarter. Loomis Sayles & Co. L P grew its stake in PagerDuty by 0.3% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,092,963 shares of the company’s stock worth $14,329,000 after buying an additional 3,276 shares during the last quarter. Finally, Millennium Management LLC increased its position in PagerDuty by 55.4% during the 1st quarter. Millennium Management LLC now owns 1,005,111 shares of the company’s stock valued at $18,363,000 after buying an additional 358,347 shares in the last quarter. 97.26% of the stock is owned by hedge funds and other institutional investors.

PagerDuty Stock Performance

Shares of PD opened at $11.12 on Friday. The stock has a 50-day moving average of $9.73 and a two-hundred day moving average of $8.21. PagerDuty has a one year low of $5.70 and a one year high of $17.29. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.95 and a current ratio of 1.95. The stock has a market cap of $857.73 million, a P/E ratio of 5.45, a P/E/G ratio of 2.88 and a beta of 0.93.

PagerDuty (NYSE:PD) last announced its quarterly earnings data 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 analyst estimates of $119.52 million. PagerDuty had a return on equity of 18.20% and a net margin of 38.60%.The company’s revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.24 earnings per share. PagerDuty has set its Q2 2027 guidance at 0.290-0.310 EPS. As a group, research analysts predict that PagerDuty will post 0.58 EPS for the current year.

PagerDuty declared that its Board of Directors has authorized a stock buyback program on Thursday, May 28th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 16.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PD. Canaccord Genuity Group boosted their price target on PagerDuty from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, May 29th. Weiss Ratings raised shares of PagerDuty from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, July 13th. Wall Street Zen cut shares of PagerDuty from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. Morgan Stanley downgraded shares of PagerDuty from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $10.00 to $9.00 in a research report on Tuesday, July 21st. Finally, Royal Bank Of Canada upped their price target on shares of PagerDuty from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, PagerDuty has an average rating of “Hold” and an average price target of $11.50.

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.