Resona Asset Management Co. Ltd. Acquires 6,551 Shares of Dynatrace, Inc. (NYSE:DT)

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Dynatrace, Inc. by 6.6% during the first quarter, acquiring an additional 6,551 shares and bringing its total to 106,364 shares valued at approximately $5 million.
• Dynatrace, Inc. reported quarterly earnings of $0.42 per share, exceeding expectations, with a year-over-year revenue increase of 19.5% to $477.35 million.
• Multiple analysts have given Dynatrace a "Moderate Buy" rating, with price targets ranging from $44.00 to $69.00, reflecting a strong interest in the company's stock.

Resona Asset Management Co. Ltd. grew its holdings in Dynatrace, Inc. (NYSE:DT - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 106,364 shares of the company's stock after purchasing an additional 6,551 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Dynatrace were worth $5,029,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Coppell Advisory Solutions LLC boosted its stake in shares of Dynatrace by 1,423.4% in the 4th quarter. Coppell Advisory Solutions LLC now owns 716 shares of the company's stock valued at $39,000 after purchasing an additional 669 shares during the last quarter. CX Institutional bought a new position in shares of Dynatrace in the 1st quarter valued at about $40,000. Opal Wealth Advisors LLC acquired a new stake in shares of Dynatrace in the 1st quarter valued at approximately $45,000. MassMutual Private Wealth & Trust FSB raised its position in shares of Dynatrace by 35.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 979 shares of the company's stock valued at $46,000 after acquiring an additional 256 shares during the period. Finally, Global Financial Private Client LLC raised its position in shares of Dynatrace by 344.0% in the 1st quarter. Global Financial Private Client LLC now owns 1,110 shares of the company's stock valued at $52,000 after acquiring an additional 860 shares during the period. Institutional investors own 94.28% of the company's stock.

Dynatrace Stock Up 1.7%

NYSE DT opened at $48.21 on Friday. Dynatrace, Inc. has a 12-month low of $39.30 and a 12-month high of $63.00. The company has a market capitalization of $14.54 billion, a PE ratio of 29.58, a price-to-earnings-growth ratio of 4.12 and a beta of 0.91. The firm's 50 day moving average is $53.00 and its 200-day moving average is $52.11.

Dynatrace (NYSE:DT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.04. Dynatrace had a net margin of 27.75% and a return on equity of 9.15%. The company had revenue of $477.35 million for the quarter, compared to the consensus estimate of $467.39 million. During the same period last year, the company earned $0.33 earnings per share. The firm's revenue was up 19.5% compared to the same quarter last year. As a group, sell-side analysts expect that Dynatrace, Inc. will post 0.68 EPS for the current year.

Insider Activity

In other news, EVP Dan Zugelder sold 15,824 shares of Dynatrace stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $54.52, for a total value of $862,724.48. Following the sale, the executive vice president directly owned 17,242 shares in the company, valued at $940,033.84. This trade represents a 47.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. KeyCorp assumed coverage on shares of Dynatrace in a research report on Tuesday, June 10th. They issued an "overweight" rating and a $69.00 price target on the stock. Loop Capital cut their price target on shares of Dynatrace from $55.00 to $44.00 and set a "hold" rating on the stock in a research report on Wednesday, April 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $67.00 price target on shares of Dynatrace in a research report on Monday, August 4th. The Goldman Sachs Group increased their price target on shares of Dynatrace from $56.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Bank of America increased their price target on shares of Dynatrace from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.57.

Dynatrace Profile

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.

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