Dynatrace (DT) Rose on the Excitement Surrounding AI

Polen Capital, an investment management company, released its “Polen Global SMID Company Growth Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. Interest rates and uncertainty about the direction of global economic growth continued to be negative factors while enthusiasm over generative AI enhanced companies exposed to the technology. The portfolio returned -0.15% gross and -0.26% net of fees in the second quarter compared to a 3.34% return on the MSCI ACWI SMID Capitalization Index. Negative stock selection led the portfolio to underperform in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Polen Global SMID Company Growth Strategy highlighted stocks like Dynatrace, Inc. (NYSE:DT) in the second quarter 2023 investor letter. Headquartered in Waltham, Massachusetts, Dynatrace, Inc. (NYSE:DT) develops a software intelligence platform for enterprise cloud. On August 11, 2023, Dynatrace, Inc. (NYSE:DT) stock closed at $45.93 per share. One-month return of Dynatrace, Inc. (NYSE:DT) was -16.46%, and its shares gained 7.21% of their value over the last 52 weeks. Dynatrace, Inc. (NYSE:DT) has a market capitalization of $13.465 billion.

Polen Global SMID Company Growth Strategy made the following comment about Dynatrace, Inc. (NYSE:DT) in its second quarter 2023 investor letter:

“Dynatrace, Inc. (NYSE:DT), a software intelligence company that leverages AI to help organizations operate more efficiently, was boosted by the excitement surrounding AI. The company also reported quarterly results and raised guidance for the following year. We remain enthusiastic about Dynatrace’s short, medium, and long-term fundamentals but trimmed our position as valuations increased.”

Dynatrace, Inc. (NYSE:DT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Dynatrace, Inc. (NYSE:DT) at the end of first quarter which was 37 in the previous quarter.

We discussed Dynatrace, Inc. (NYSE:DT) in another article and shared Aristotle Atlantic Large Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.