Legal & General Group Plc Buys New Stake in PagerDuty $PD

Legal & General Group Plc bought a new stake in shares of PagerDuty (NYSE:PD) during the second quarter, HoldingsChannel reports. The fund bought 63,402 shares of the company’s stock, valued at approximately $612,000.

Several other hedge funds also recently bought and sold shares of PD. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $943,000 after acquiring an additional 671 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of PagerDuty by 1.4% during the second quarter. California State Teachers Retirement System now owns 81,474 shares of the company’s stock valued at $1,245,000 after acquiring an additional 1,129 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of PagerDuty by 11.8% during the fourth quarter. ProShare Advisors LLC now owns 16,324 shares of the company’s stock valued at $214,000 after acquiring an additional 1,720 shares during the last quarter. Loomis Sayles & Co. L P increased its position 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 purchasing an additional 3,276 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in PagerDuty by 4.1% in the 3rd quarter. Alliancebernstein L.P. now owns 95,302 shares of the company’s stock valued at $1,574,000 after purchasing an additional 3,784 shares during the last quarter. Hedge funds and other institutional investors own 97.26% of the company’s stock.

PagerDuty Price Performance

Shares of PagerDuty stock opened at $13.32 on Wednesday. The business’s fifty day moving average price is $11.36 and its 200 day moving average price is $8.78. PagerDuty has a twelve month low of $5.70 and a twelve month high of $17.29. 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 stock has a market capitalization of $1.05 billion, a P/E ratio of 6.66, a PEG ratio of 2.11 and a beta of 0.96.

PagerDuty (NYSE:PD) last announced 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. The company had revenue of $124.44 million during the quarter, compared to analyst estimates of $123.27 million. PagerDuty had a return on equity of 18.52% and a net margin of 37.50%.The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. PagerDuty has set its FY 2027 guidance at 1.330-1.370 EPS and its Q3 2027 guidance at 0.340-0.360 EPS. As a group, research analysts anticipate that PagerDuty will post 0.69 earnings per share for the current year.

PagerDuty declared that its Board of Directors has authorized a share repurchase plan on Thursday, May 28th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 16.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

PD has been the topic of several analyst reports. UBS Group set a $13.50 price target on shares of PagerDuty in a research note on Wednesday, August 26th. Truist Financial boosted their price objective on shares of PagerDuty from $11.00 to $13.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Canaccord Genuity Group upped their price objective on shares of PagerDuty from $10.00 to $15.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Wall Street Zen lowered shares of PagerDuty from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings raised shares of PagerDuty from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 21st. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.56.

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.