William Blair Upgrades DocuSign (NASDAQ:DOCU) to “Outperform”

DocuSign (NASDAQ:DOCU) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a report released on Monday, MarketBeat.com reports.

A number of other analysts have also recently weighed in on DOCU. JPMorgan Chase & Co. upgraded shares of DocuSign from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $70.00 to $75.00 in a report on Monday, March 10th. Jefferies Financial Group raised their target price on shares of DocuSign from $80.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Citigroup raised their target price on shares of DocuSign from $113.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, March 14th. HSBC restated a “reduce” rating on shares of DocuSign in a report on Friday, December 6th. Finally, Wedbush restated a “neutral” rating and set a $100.00 target price on shares of DocuSign in a report on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $95.00.

DocuSign Trading Up 1.9 %

Shares of NASDAQ:DOCU opened at $85.01 on Monday. The firm’s 50 day moving average is $87.75 and its two-hundred day moving average is $79.87. DocuSign has a 52 week low of $48.70 and a 52 week high of $107.86. The firm has a market capitalization of $17.17 billion, a P/E ratio of 17.53, a PEG ratio of 6.94 and a beta of 1.02.

DocuSign (NASDAQ:DOCU) last posted its quarterly earnings data on Thursday, March 13th. The company reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The business had revenue of $776.25 million for the quarter, compared to analyst estimates of $760.94 million. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts predict that DocuSign will post 1.17 EPS for the current year.

Insider Activity at DocuSign

In related news, CEO Allan C. Thygesen sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total value of $3,601,600.00. Following the transaction, the chief executive officer now directly owns 156,050 shares in the company, valued at $14,050,742. This represents a 20.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Blake Jeffrey Grayson sold 8,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $86.90, for a total transaction of $695,200.00. Following the completion of the transaction, the chief financial officer now owns 77,851 shares in the company, valued at $6,765,251.90. This represents a 9.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,034 shares of company stock worth $5,932,352 over the last ninety days. Company insiders own 1.66% of the company’s stock.

Institutional Investors Weigh In On DocuSign

Several hedge funds have recently bought and sold shares of the company. 111 Capital acquired a new stake in DocuSign in the fourth quarter worth $1,721,000. Wealth Enhancement Advisory Services LLC raised its holdings in DocuSign by 17.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 17,215 shares of the company’s stock worth $1,548,000 after purchasing an additional 2,612 shares during the period. Wood Tarver Financial Group LLC acquired a new stake in DocuSign in the fourth quarter worth $37,000. Audent Global Asset Management LLC raised its holdings in DocuSign by 382.6% in the fourth quarter. Audent Global Asset Management LLC now owns 27,425 shares of the company’s stock worth $2,467,000 after purchasing an additional 21,742 shares during the period. Finally, Siemens Fonds Invest GmbH acquired a new stake in DocuSign in the fourth quarter worth $772,000. 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.