Zimmer Partners LP Makes New Investment in Pagerduty Inc (NYSE:PD)

Zimmer Partners LP purchased a new position in shares of Pagerduty Inc (NYSE:PD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 30,000 shares of the company’s stock, valued at approximately $1,412,000.

A number of other hedge funds have also made changes to their positions in PD. Price T Rowe Associates Inc. MD acquired a new position in Pagerduty during the 2nd quarter worth $164,467,000. Vanguard Group Inc. acquired a new position in Pagerduty during the 2nd quarter worth $51,931,000. JPMorgan Chase & Co. acquired a new position in Pagerduty during the 2nd quarter worth $30,808,000. BlackRock Inc. acquired a new position in Pagerduty during the 2nd quarter worth $29,470,000. Finally, Morgan Stanley acquired a new position in Pagerduty during the 2nd quarter worth $13,436,000. Institutional investors own 49.34% of the company’s stock.

A number of research firms have recently commented on PD. KeyCorp reissued a “hold” rating on shares of Pagerduty in a research note on Friday, September 6th. Royal Bank of Canada raised Pagerduty from a “sector perform” rating to an “outperform” rating and set a $49.00 price objective on the stock in a research note on Wednesday, August 14th. Zacks Investment Research raised Pagerduty from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, September 11th. Raymond James reissued a “buy” rating and issued a $4.75 price objective on shares of Pagerduty in a research note on Friday, July 26th. Finally, Piper Jaffray Companies boosted their price objective on Pagerduty from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Friday, June 7th. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pagerduty has a consensus rating of “Buy” and an average target price of $36.14.



Shares of PD traded down $2.78 during midday trading on Tuesday, reaching $29.00. The stock had a trading volume of 1,144,192 shares, compared to its average volume of 956,547. The firm has a 50 day moving average of $34.56. Pagerduty Inc has a 52 week low of $26.98 and a 52 week high of $59.82.

Pagerduty (NYSE:PD) last announced its earnings results on Thursday, September 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.12. The company had revenue of $40.40 million for the quarter, compared to analyst estimates of $39.12 million. The firm’s revenue was up 45.8% compared to the same quarter last year. Research analysts expect that Pagerduty Inc will post -0.76 earnings per share for the current fiscal year.

Pagerduty Profile

PagerDuty, Inc operates an On-Call Management platform. The company's platform collects signals from software-enabled system or device, correlates and interprets signals to identify events, and engages team members to take action in real time. It serves developer, IT, security, and customer support segments.

Further Reading: Quantitative Easing

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Institutional Ownership by Quarter for Pagerduty (NYSE:PD)

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