American Century Companies Inc. Raises Stock Position in DocuSign, Inc. (NASDAQ:DOCU)

American Century Companies Inc. grew its holdings in DocuSign, Inc. (NASDAQ:DOCU) by 18.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,315,459 shares of the company’s stock after buying an additional 831,611 shares during the period. American Century Companies Inc. owned approximately 2.63% of DocuSign worth $478,072,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of DocuSign in the 4th quarter worth about $1,421,000. Virtu Financial LLC bought a new stake in shares of DocuSign in the 4th quarter worth about $1,494,000. Oxford Financial Group LTD. LLC bought a new stake in shares of DocuSign in the 4th quarter worth about $1,639,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of DocuSign in the 4th quarter worth about $4,032,000. Finally, Lingohr Asset Management GmbH bought a new stake in shares of DocuSign in the 4th quarter worth about $538,000. 77.64% of the stock is owned by hedge funds and other institutional investors.

DocuSign Stock Performance

NASDAQ:DOCU opened at $88.06 on Friday. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86. The stock has a market capitalization of $17.79 billion, a PE ratio of 18.16, a P/E/G ratio of 6.94 and a beta of 1.02. The company has a fifty day moving average of $87.54 and a two-hundred day moving average of $80.15.

DocuSign (NASDAQ:DOCU) last released its earnings results on Thursday, March 13th. The company reported $0.86 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $760.94 million. During the same quarter in the prior year, the firm earned $0.76 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts forecast that DocuSign, Inc. will post 1.17 earnings per share for the current year.

Insider Transactions at DocuSign

In related news, Director Teresa Briggs sold 534 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $87.41, for a total value of $46,676.94. Following the completion of the sale, the director now owns 8,270 shares of the company’s stock, valued at approximately $722,880.70. This represents a 6.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of the company’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the sale, the chief financial officer now directly owns 93,960 shares of the company’s stock, valued at $7,817,472. This represents a 14.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,851 shares of company stock valued at $8,579,369 over the last 90 days. 1.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DOCU. JPMorgan Chase & Co. raised shares of DocuSign from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $70.00 to $75.00 in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, March 14th. Robert W. Baird set a $93.00 target price on shares of DocuSign in a research note on Friday, March 14th. JMP Securities reiterated a “market outperform” rating and issued a $124.00 target price on shares of DocuSign in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of DocuSign in a research note on Friday, March 14th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, DocuSign presently has a consensus rating of “Hold” and an average target price of $95.00.

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.