Synovus Financial Corp Increases Position in Dynatrace, Inc. $DT

Key Points

• Synovus Financial Corp increased its holdings in Dynatrace, Inc. by 26.9%, owning 82,403 shares valued at $3.89 million after acquiring additional shares in the first quarter.
• Other institutional investors such as Keybank National Association and Bridges Investment Management also significantly increased their stakes in Dynatrace, indicating strong institutional interest in the company.
• Research analysts have set new price targets for Dynatrace, with estimates ranging from $55.00 to $65.00, reflecting positive sentiment regarding the stock's performance and growth potential.

Synovus Financial Corp grew its holdings in Dynatrace, Inc. (NYSE:DT - Free Report) by 26.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 82,403 shares of the company's stock after buying an additional 17,453 shares during the period. Synovus Financial Corp's holdings in Dynatrace were worth $3,885,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Keybank National Association OH increased its stake in shares of Dynatrace by 30.0% during the first quarter. Keybank National Association OH now owns 738,230 shares of the company's stock worth $34,808,000 after acquiring an additional 170,380 shares during the period. Bridges Investment Management Inc. increased its stake in shares of Dynatrace by 82.4% during the first quarter. Bridges Investment Management Inc. now owns 24,873 shares of the company's stock worth $1,173,000 after acquiring an additional 11,234 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Dynatrace by 4.0% during the first quarter. Asset Management One Co. Ltd. now owns 121,613 shares of the company's stock worth $5,734,000 after acquiring an additional 4,697 shares during the period. Teacher Retirement System of Texas acquired a new position in shares of Dynatrace during the first quarter worth about $2,175,000. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Dynatrace during the first quarter worth about $3,846,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Dynatrace

In related news, EVP Dan Zugelder sold 15,824 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $54.52, for a total transaction of $862,724.48. Following the sale, the executive vice president owned 17,242 shares in the company, valued at approximately $940,033.84. This trade represents a 47.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on DT shares. Royal Bank Of Canada boosted their price target on shares of Dynatrace from $60.00 to $64.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. DA Davidson increased their price target on shares of Dynatrace from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Citigroup cut their price target on shares of Dynatrace from $68.00 to $64.00 and set a "buy" rating for the company in a report on Monday, August 18th. Bank of America upped their target price on shares of Dynatrace from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, UBS Group upped their target price on shares of Dynatrace from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $62.63.

Dynatrace Price Performance

DT stock opened at $49.41 on Monday. The company's 50 day simple moving average is $52.51 and its 200-day simple moving average is $51.68. The firm has a market capitalization of $14.90 billion, a PE ratio of 30.31, a P/E/G ratio of 4.29 and a beta of 0.91. Dynatrace, Inc. has a 12 month low of $39.30 and a 12 month high of $63.00.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.