DocuSign (NASDAQ:DOCU) Earns Outperform Rating from William Blair

DocuSign (NASDAQ:DOCU)‘s stock had its “outperform” rating reiterated by investment analysts at William Blair in a research note issued on Monday,RTT News reports.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group lowered their price target on shares of DocuSign from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Wells Fargo & Company upped their target price on shares of DocuSign from $70.00 to $73.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. UBS Group reduced their price target on DocuSign from $90.00 to $85.00 and set a “neutral” rating on the stock in a research report on Thursday. Bank of America dropped their price objective on DocuSign from $112.00 to $98.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, Wedbush restated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a research report on Friday, March 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $93.08.

DocuSign Trading Down 4.7 %

Shares of DocuSign stock traded down $3.53 during midday trading on Monday, reaching $71.89. The company had a trading volume of 1,425,859 shares, compared to its average volume of 2,734,910. The stock has a fifty day simple moving average of $81.35 and a 200 day simple moving average of $83.38. DocuSign has a 1-year low of $48.70 and a 1-year high of $107.86. The company has a market capitalization of $14.56 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 6.94 and a beta of 1.20.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. DocuSign had a return on equity of 14.90% and a net margin of 34.73%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.76 earnings per share. Sell-side analysts expect that DocuSign will post 1.17 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Blake Jeffrey Grayson sold 8,000 shares of the firm’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $76.09, for a total value of $608,720.00. Following the completion of the transaction, the chief financial officer now owns 86,156 shares of the company’s stock, valued at approximately $6,555,610.04. This trade represents a 8.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Chatwani sold 15,706 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.19, for a total transaction of $1,306,582.14. Following the sale, the insider now directly owns 76,842 shares in the company, valued at $6,392,485.98. This trade represents a 16.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,851 shares of company stock valued at $4,607,439 in the last quarter. 1.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its holdings in DocuSign by 118.8% during the fourth quarter. Rhumbline Advisers now owns 608,123 shares of the company’s stock worth $54,695,000 after buying an additional 330,136 shares during the last quarter. KBC Group NV raised its stake in DocuSign by 32.7% in the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company’s stock valued at $138,067,000 after acquiring an additional 378,233 shares during the period. Jennison Associates LLC acquired a new stake in DocuSign during the 4th quarter valued at $12,897,000. Everence Capital Management Inc. bought a new position in DocuSign during the fourth quarter worth $720,000. Finally, Principal Financial Group Inc. increased its holdings in shares of DocuSign by 3,026.7% in the fourth quarter. Principal Financial Group Inc. now owns 546,796 shares of the company’s stock valued at $49,179,000 after purchasing an additional 529,308 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.

DocuSign Company Profile

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.