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

American Century Companies Inc. boosted its stake in shares of DocuSign, Inc. (NASDAQ:DOCU) by 18.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,315,459 shares of the company’s stock after acquiring an additional 831,611 shares during the quarter. American Century Companies Inc.’s holdings in DocuSign were worth $478,072,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Kestra Investment Management LLC purchased a new position in DocuSign during the fourth quarter worth about $30,000. First Horizon Advisors Inc. boosted its stake in DocuSign by 102.6% during the fourth quarter. First Horizon Advisors Inc. now owns 397 shares of the company’s stock worth $36,000 after buying an additional 201 shares during the period. Modus Advisors LLC purchased a new position in DocuSign during the fourth quarter worth about $36,000. Itau Unibanco Holding S.A. purchased a new position in DocuSign during the third quarter worth about $28,000. Finally, Avion Wealth boosted its stake in DocuSign by 309.2% during the fourth quarter. Avion Wealth now owns 487 shares of the company’s stock worth $43,000 after buying an additional 368 shares during the period. Hedge funds and other institutional investors own 77.64% of the company’s stock.

DocuSign Stock Up 3.5 %

Shares of NASDAQ:DOCU opened at $88.06 on Friday. The firm’s 50 day moving average price is $87.54 and its 200 day moving average price is $80.15. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 18.16, a price-to-earnings-growth ratio of 6.94 and a beta of 1.02. DocuSign, Inc. has a fifty-two week low of $48.70 and a fifty-two week high of $107.86.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings data 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. DocuSign had a net margin of 34.73% and a return on equity of 14.90%. The company had revenue of $776.25 million for the quarter, compared to analysts’ expectations of $760.94 million. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that DocuSign, Inc. will post 1.17 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on DOCU shares. Bank of America reduced their price target on shares of DocuSign from $112.00 to $98.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th. Wells Fargo & Company increased their price target on shares of DocuSign from $70.00 to $73.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Robert W. Baird set a $93.00 price target on shares of DocuSign in a research report on Friday, March 14th. Morgan Stanley increased their price target on shares of DocuSign from $62.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Finally, JMP Securities reissued a “market outperform” rating and set a $124.00 price target on shares of DocuSign in a research report on Tuesday, January 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, DocuSign currently has a consensus rating of “Hold” and a consensus price target of $95.00.

Insiders Place Their Bets

In other DocuSign news, CEO Allan C. Thygesen sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $90.04, for a total transaction of $3,601,600.00. Following the sale, the chief executive officer now owns 156,050 shares of the company’s stock, valued at approximately $14,050,742. This trade represents a 20.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider James P. Shaughnessy sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $90.17, for a total transaction of $676,275.00. Following the sale, the insider now directly owns 43,781 shares in the company, valued at approximately $3,947,732.77. The trade was a 14.63 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,851 shares of company stock valued at $8,579,369. 1.66% of the stock is owned by corporate insiders.

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.