Handelsbanken Fonder AB Reduces Holdings in Dynatrace, Inc. (NYSE:DT)

Handelsbanken Fonder AB reduced its position in shares of Dynatrace, Inc. (NYSE:DT) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,244,400 shares of the company’s stock after selling 367,000 shares during the period. Handelsbanken Fonder AB owned about 0.75% of Dynatrace worth $105,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Dynatrace by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 30,161,184 shares of the company’s stock valued at $1,639,260,000 after buying an additional 484,877 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Dynatrace by 5.6% in the fourth quarter. Janus Henderson Group PLC now owns 9,361,736 shares of the company’s stock worth $508,811,000 after acquiring an additional 493,987 shares in the last quarter. American Century Companies Inc. boosted its holdings in Dynatrace by 10.2% in the fourth quarter. American Century Companies Inc. now owns 7,570,364 shares of the company’s stock valued at $411,449,000 after purchasing an additional 700,332 shares during the last quarter. Pictet Asset Management Holding SA increased its holdings in Dynatrace by 13.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 7,025,949 shares of the company’s stock worth $381,860,000 after purchasing an additional 834,225 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Dynatrace by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 5,215,824 shares of the company’s stock valued at $282,985,000 after purchasing an additional 87,857 shares in the last quarter. 94.28% of the stock is currently owned by hedge funds and other institutional investors.

Dynatrace Stock Performance

Shares of DT stock opened at $54.24 on Tuesday. The stock’s 50 day simple moving average is $48.51 and its 200 day simple moving average is $52.64. Dynatrace, Inc. has a twelve month low of $39.30 and a twelve month high of $63.00. The company has a market capitalization of $16.25 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 7.05 and a beta of 0.92.

Dynatrace (NYSE:DT) last announced its quarterly earnings results on Wednesday, May 14th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03. Dynatrace had a return on equity of 8.98% and a net margin of 29.51%. The company had revenue of $445.17 million for the quarter, compared to the consensus estimate of $435.14 million. During the same quarter last year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was up 16.9% compared to the same quarter last year. On average, analysts forecast that Dynatrace, Inc. will post 0.68 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DT shares. Rosenblatt Securities reiterated a “buy” rating and set a $67.00 price objective on shares of Dynatrace in a research note on Tuesday, May 13th. BMO Capital Markets increased their price target on Dynatrace from $60.00 to $63.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Wedbush restated an “outperform” rating and set a $67.00 price objective on shares of Dynatrace in a research report on Friday, May 16th. KeyCorp began coverage on Dynatrace in a research report on Tuesday. They issued an “overweight” rating and a $69.00 target price on the stock. Finally, Bank of America raised their target price on Dynatrace from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.75.

About Dynatrace

Dynatrace, Inc provides a security platform for multicloud environments in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates Dynatrace, a security platform, which provides application and microservices monitoring, runtime application security, infrastructure monitoring, log management and analytics, digital experience monitoring, digital business analytics, and cloud automation.