Retirement Systems of Alabama Sells 81,212 Shares of Dynatrace, Inc. $DT

Retirement Systems of Alabama reduced its position in shares of Dynatrace, Inc. (NYSE:DT) by 21.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 298,089 shares of the company’s stock after selling 81,212 shares during the quarter. Retirement Systems of Alabama’s holdings in Dynatrace were worth $17,212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fulcrum Asset Management LLP grew its position in shares of Dynatrace by 7,561.1% during the 3rd quarter. Fulcrum Asset Management LLP now owns 22,830 shares of the company’s stock worth $1,313,000 after buying an additional 22,532 shares during the period. Brighton Jones LLC raised its stake in shares of Dynatrace by 15.0% during the third quarter. Brighton Jones LLC now owns 18,239 shares of the company’s stock worth $1,053,000 after buying an additional 2,378 shares during the last quarter. StoneX Group Inc. raised its stake in shares of Dynatrace by 54.5% during the third quarter. StoneX Group Inc. now owns 10,777 shares of the company’s stock worth $607,000 after buying an additional 3,801 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Dynatrace by 12.0% in the third quarter. Pictet Asset Management Holding SA now owns 14,293,302 shares of the company’s stock valued at $825,243,000 after buying an additional 1,531,104 shares during the period. Finally, Heritage Family Offices LLP acquired a new position in Dynatrace in the third quarter valued at approximately $134,000. 94.28% of the stock is owned by institutional investors.

Insider Activity at Dynatrace

In other news, EVP Bernd Greifeneder sold 50,000 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $57.21, for a total transaction of $2,860,500.00. Following the sale, the executive vice president owned 904,846 shares of the company’s stock, valued at $51,766,239.66. This trade represents a 5.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.69% of the stock is currently owned by corporate insiders.

Dynatrace Price Performance

Shares of DT stock opened at $44.88 on Friday. Dynatrace, Inc. has a 12-month low of $31.64 and a 12-month high of $66.30. The firm has a market capitalization of $12.88 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 3.08 and a beta of 0.76. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $56.54 and a 200-day moving average of $44.77.

Dynatrace (NYSE:DT) last posted its earnings results on Tuesday, November 3rd. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. Dynatrace had a return on equity of 12.73% and a net margin of 7.42%. The firm had revenue of $579.92 million for the quarter, compared to analyst estimates of $568.03 million. During the same period in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 17.4% on a year-over-year basis. On average, equities research analysts forecast that Dynatrace, Inc. will post 1.08 earnings per share for the current year.

Dynatrace announced that its board has initiated a share repurchase program on Tuesday, November 3rd that allows the company to repurchase $1 billion in shares. This buyback authorization allows the company to buy up to 6.3% of its stock through open market purchases. Share buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DT. Wedbush reduced their price objective on shares of Dynatrace from $54.00 to $50.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 4th. BTIG Research lowered their target price on shares of Dynatrace from $73.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, November 3rd. BNP Paribas Exane upgraded shares of Dynatrace from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a research report on Thursday, October 8th. Barclays cut their price target on Dynatrace from $71.00 to $61.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 4th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $71.00 price target on shares of Dynatrace in a research report on Thursday, October 15th. Twenty-four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Dynatrace has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Dynatrace Profile

Dynatrace, Inc. provides a software intelligence platform for monitoring and managing complex digital environments. Its platform helps organizations observe applications, infrastructure, cloud services and user experiences, and analyze performance and operational data. The company’s offerings include application and infrastructure monitoring, log management, digital experience monitoring, application security and business analytics. Dynatrace also incorporates artificial intelligence and automation to help identify the causes of problems and support responses to them.