DocuSign (NASDAQ:DOCU) Upgraded at William Blair

DocuSign (NASDAQ:DOCU) was upgraded by stock analysts at William Blair from a “market perform” rating to an “outperform” rating in a report issued on Monday,Benzinga reports.

A number of other analysts have also weighed in on DOCU. Hsbc Global Res upgraded DocuSign to a “moderate sell” rating in a report on Friday, December 6th. Morgan Stanley upped their target price on DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a report on Friday, December 6th. Wells Fargo & Company upped their target price on DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a report on Friday. Jefferies Financial Group upped their target price on DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, HSBC reiterated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, DocuSign currently has an average rating of “Hold” and an average target price of $95.58.

DocuSign Stock Up 14.8 %

Shares of NASDAQ:DOCU opened at $85.76 on Monday. DocuSign has a 52-week low of $48.70 and a 52-week high of $107.86. The stock has a market cap of $17.33 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. The business’s 50 day moving average is $87.97 and its 200 day moving average is $79.52.

DocuSign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. DocuSign’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 earnings per share. On average, sell-side analysts anticipate that DocuSign will post 1.17 EPS for the current fiscal year.

Insider Buying and Selling

In other DocuSign news, Director Peter Solvik sold 10,000 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $91.26, for a total transaction of $912,600.00. Following the sale, the director now directly owns 150,253 shares of the company’s stock, valued at approximately $13,712,088.78. This trade represents a 6.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $86.90, for a total value of $695,200.00. Following the sale, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This trade represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,888 shares of company stock worth $8,856,718 in the last 90 days. Insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

A number of institutional investors have recently modified their holdings of the business. Wood Tarver Financial Group LLC acquired a new stake in shares of DocuSign during the 4th quarter valued at about $37,000. Audent Global Asset Management LLC lifted its stake in DocuSign by 382.6% in the 4th quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock valued at $2,467,000 after buying an additional 21,742 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new position in DocuSign in the 4th quarter valued at about $772,000. Fluent Financial LLC purchased a new position in DocuSign in the 4th quarter valued at about $694,000. Finally, Total Wealth Planning & Management Inc. purchased a new position in DocuSign in the 4th quarter valued at about $312,000. 77.64% of the stock is currently owned by institutional investors and hedge funds.

About DocuSign

DocuSign, Inc provides electronic signature solution in the United States and internationally. The company provides e-signature solution that enables sending and signing of agreements on various devices; Contract Lifecycle Management (CLM), which automates workflows across the entire agreement process; Document Generation streamlines the process of generating new, custom agreements; and Gen for Salesforce, which allows sales representatives to automatically generate agreements with a few clicks from within Salesforce.