PagerDuty (NYSE:PD) Announces Share Repurchase Program

PagerDuty (NYSE:PD) announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 13th, RTT News reports. The company plans to buyback $150.00 million in shares. This buyback authorization allows the company to buy up to 10.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

PagerDuty Trading Up 17.9 %

Shares of PD opened at $18.41 on Friday. The company has a debt-to-equity ratio of 3.52, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a 50 day simple moving average of $18.24 and a 200-day simple moving average of $18.69. PagerDuty has a 1-year low of $15.49 and a 1-year high of $23.85. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -23.01 and a beta of 1.12.

PagerDuty (NYSE:PD) last issued its quarterly earnings data on Thursday, March 13th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. PagerDuty had a negative net margin of 16.29% and a negative return on equity of 22.02%. The business had revenue of $121.45 million during the quarter, compared to analysts’ expectations of $119.53 million. During the same period last year, the company posted $0.17 EPS. The company’s revenue was up 9.3% on a year-over-year basis. Equities analysts forecast that PagerDuty will post -0.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on PD. Royal Bank of Canada reduced 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. The Goldman Sachs Group reduced 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. Truist Financial reduced their price objective on shares of PagerDuty from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. restated an “underweight” rating and issued a $21.00 price objective on shares of PagerDuty in a research report on Wednesday, December 11th. Finally, Bank of America downgraded shares of PagerDuty from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $23.00 to $18.00 in a research report on Thursday, January 30th. Two 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. According to MarketBeat.com, PagerDuty presently has an average rating of “Hold” and a consensus target price of $20.73.

Insider Transactions at PagerDuty

In other PagerDuty news, CEO Jennifer Tejada sold 1,569 shares of PagerDuty stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $20.00, for a total value of $31,380.00. Following the completion of the sale, the chief executive officer now directly owns 868,311 shares of the company’s stock, valued at approximately $17,366,220. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shelley Webb sold 7,879 shares of PagerDuty stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $18.19, for a total transaction of $143,319.01. Following the completion of the sale, the insider now directly owns 199,122 shares of the company’s stock, valued at $3,622,029.18. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,048 shares of company stock valued at $186,699 in the last ninety days. Corporate insiders own 7.60% of the company’s stock.

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.