Fiera Capital Corp Boosts Stake in Docusign Inc. $DOCU

Fiera Capital Corp raised its position in Docusign Inc. (NASDAQ:DOCU) by 32.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 673,688 shares of the company’s stock after purchasing an additional 163,798 shares during the quarter. Fiera Capital Corp owned 0.34% of Docusign worth $46,080,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of DOCU. NewEdge Advisors LLC raised its holdings in Docusign by 36.4% in the first quarter. NewEdge Advisors LLC now owns 9,202 shares of the company’s stock valued at $749,000 after buying an additional 2,457 shares during the period. Guggenheim Capital LLC grew its stake in Docusign by 6.7% during the second quarter. Guggenheim Capital LLC now owns 11,543 shares of the company’s stock worth $899,000 after buying an additional 729 shares during the period. State Street Corp increased its position in shares of Docusign by 3.0% in the second quarter. State Street Corp now owns 8,074,976 shares of the company’s stock worth $628,960,000 after acquiring an additional 236,494 shares in the last quarter. Sei Investments Co. raised its stake in shares of Docusign by 60.7% in the 2nd quarter. Sei Investments Co. now owns 40,386 shares of the company’s stock valued at $3,146,000 after acquiring an additional 15,247 shares during the period. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of Docusign by 51.0% during the 2nd quarter. Treasurer of the State of North Carolina now owns 189,178 shares of the company’s stock valued at $14,735,000 after acquiring an additional 63,911 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Docusign

In other Docusign news, Director Mary Agnes Wilderotter sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $48.15, for a total transaction of $144,450.00. Following the completion of the sale, the director owned 59,803 shares in the company, valued at $2,879,514.45. This trade represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Paula Hansen sold 6,000 shares of Docusign stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $46.84, for a total value of $281,040.00. Following the sale, the executive owned 79,233 shares in the company, valued at $3,711,273.72. This represents a 7.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 65,489 shares of company stock valued at $3,125,814 in the last three months. 0.59% of the stock is currently owned by company insiders.

Docusign Price Performance

Docusign stock opened at $46.16 on Tuesday. Docusign Inc. has a 12-month low of $40.16 and a 12-month high of $86.65. The company has a market capitalization of $8.97 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 1.80 and a beta of 0.92. The firm’s fifty day moving average price is $47.74 and its 200 day moving average price is $53.95.

Docusign (NASDAQ:DOCU) last announced its earnings results on Thursday, June 4th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.10. Docusign had a return on equity of 17.48% and a net margin of 9.59%.The company had revenue of $830.24 million during the quarter, compared to the consensus estimate of $824.71 million. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Analysts forecast that Docusign Inc. will post 1.76 earnings per share for the current fiscal year.

Docusign declared that its board has approved a share buyback plan on Tuesday, March 17th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 21% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on DOCU shares. Weiss Ratings upgraded Docusign from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, June 3rd. Wells Fargo & Company reduced their price objective on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Friday. Bank of America assumed coverage on Docusign in a research report on Tuesday, March 31st. They issued an “underperform” rating and a $52.00 target price for the company. UBS Group set a $60.00 target price on Docusign in a report on Friday. Finally, BTIG Research reduced their price target on Docusign from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday. Three analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $60.27.

Docusign Company Profile

DocuSign, Inc (NASDAQ: DOCU) is a leading provider of electronic signature and digital transaction management solutions. The company’s flagship offering, DocuSign eSignature, enables organizations to send, sign and manage legally binding electronic agreements securely in the cloud. Beyond eSignature, DocuSign’s Agreement Cloud combines contract lifecycle management, document generation, and workflow automation to streamline agreement processes from initiation through execution and storage.

DocuSign’s platform serves a diverse customer base spanning industries such as finance, real estate, healthcare, technology, and government.