Murray was 8 of 15 from the field. Stacy Davis added 16 points with three steals for Pepperdine (3-4).
Martin Breunig scored 12 of his 28 points in the final eight minutes, and had 10 rebounds to lead Montana (2-3). Walter Wright chipped in 12 points.
The Waves had a nine-point lead early in the second half before the Grizzlies used an 18-11 run to tie it at 50 with seven minutes left. Breunig scored eight points and Michael Oguine added six during the stretch. A 7-2 surge gave the Waves a 57-52 lead with 4:38 left.
Breunig answered with a dunk, but A.J. John made a pair of free throws, Davis scored six points and Jett Raines added four points to seal it for the Waves.