Jefferies Financial Group Cuts Dynatrace (NYSE:DT) Price Target to $60.00

Dynatrace (NYSE:DT) had its price target reduced by Jefferies Financial Group from $65.00 to $60.00 in a report released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.

DT has been the subject of several other research reports. BMO Capital Markets reduced their target price on shares of Dynatrace from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Monday, March 17th. Robert W. Baird set a $65.00 target price on shares of Dynatrace in a report on Friday, January 31st. Scotiabank lifted their target price on shares of Dynatrace from $62.00 to $67.00 and gave the stock a “sector outperform” rating in a report on Friday, January 31st. UBS Group lifted their target price on shares of Dynatrace from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company set a $70.00 target price on shares of Dynatrace in a report on Friday, January 31st. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.13.

Dynatrace Price Performance

Shares of DT opened at $45.11 on Monday. The firm has a 50-day moving average of $53.29 and a 200-day moving average of $53.93. Dynatrace has a one year low of $39.30 and a one year high of $63.00. The company has a market cap of $13.50 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 7.05 and a beta of 1.05.

Insider Activity

In related news, CEO Rick M. Mcconnell sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $60.45, for a total transaction of $2,418,000.00. Following the completion of the transaction, the chief executive officer now directly owns 506,720 shares in the company, valued at $30,631,224. This represents a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stephen J. Lifshatz sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $60.88, for a total transaction of $152,200.00. Following the transaction, the director now owns 36,471 shares of the company’s stock, valued at approximately $2,220,354.48. This represents a 6.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,432 shares of company stock worth $7,159,599. 0.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dynatrace

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Dynatrace by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 30,161,184 shares of the company’s stock worth $1,639,260,000 after acquiring an additional 484,877 shares during the last quarter. State Street Corp grew its holdings in Dynatrace by 14.6% during the 3rd quarter. State Street Corp now owns 9,468,594 shares of the company’s stock worth $506,286,000 after acquiring an additional 1,207,621 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Dynatrace by 5.6% during the 4th 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 during the last quarter. American Century Companies Inc. grew its holdings in Dynatrace by 10.2% during the 4th quarter. American Century Companies Inc. now owns 7,570,364 shares of the company’s stock worth $411,449,000 after acquiring an additional 700,332 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew 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 acquiring an additional 834,225 shares during the last quarter. 94.28% of the stock is currently owned by institutional investors and hedge funds.

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.