Connor Clark & Lunn Investment Management Ltd. Buys 89,400 Shares of PagerDuty, Inc. (NYSE:PD)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of PagerDuty, Inc. (NYSE:PD) by 18.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 579,305 shares of the company’s stock after buying an additional 89,400 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in PagerDuty were worth $10,578,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. AlphaQuest LLC lifted its position in PagerDuty by 140.6% during the fourth quarter. AlphaQuest LLC now owns 109,642 shares of the company’s stock valued at $2,002,000 after purchasing an additional 64,068 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in PagerDuty by 24.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,061 shares of the company’s stock valued at $184,000 after purchasing an additional 1,965 shares during the last quarter. Vestmark Advisory Solutions Inc. lifted its position in PagerDuty by 10.8% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 256,568 shares of the company’s stock valued at $4,911,000 after purchasing an additional 24,918 shares during the last quarter. Raymond James Financial Inc. bought a new position in PagerDuty during the fourth quarter valued at $6,574,000. Finally, M&T Bank Corp lifted its position in PagerDuty by 17.5% during the fourth quarter. M&T Bank Corp now owns 60,985 shares of the company’s stock valued at $1,113,000 after purchasing an additional 9,085 shares during the last quarter. Institutional investors own 97.26% of the company’s stock.

Insider Buying and Selling at PagerDuty

In other PagerDuty news, 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 owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. This trade represents a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 directly owns 199,122 shares in the company, valued at $3,622,029.18. This trade represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,048 shares of company stock valued at $186,699. Company insiders own 7.60% of the company’s stock.

Analyst Upgrades and Downgrades

PD has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on shares of PagerDuty from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Friday. Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their target price for the company from $23.00 to $18.00 in a research note on Thursday, January 30th. Truist Financial reduced their target price on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada reduced 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. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $21.00 target price on shares of PagerDuty in a research note on Wednesday, December 11th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $20.73.

PagerDuty Trading Up 17.9 %

PD stock opened at $18.41 on Friday. The company has a market capitalization of $1.66 billion, a PE ratio of -23.01 and a beta of 1.12. PagerDuty, Inc. has a 12 month low of $15.49 and a 12 month high of $23.85. The firm’s 50-day moving average is $18.24 and its 200 day moving average is $18.69. 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 announced that its board has authorized a share repurchase plan on Thursday, March 13th that permits the company to repurchase $150.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 10.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.