DocuSign’s (DOCU) Sector Perform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their sector perform rating on shares of DocuSign (NASDAQ:DOCU) in a research note published on Friday morning, Benzinga reports. Royal Bank of Canada currently has a $59.00 price target on the stock.

Several other equities analysts have also issued reports on the company. UBS Group upgraded DocuSign from a sell rating to a neutral rating and boosted their target price for the stock from $48.00 to $62.00 in a research report on Friday. Morgan Stanley upgraded DocuSign from an underweight rating to an equal weight rating and lifted their price objective for the company from $49.00 to $64.00 in a report on Tuesday, January 16th. Wells Fargo & Company cut their price objective on DocuSign from $55.00 to $45.00 and set an underweight rating on the stock in a report on Monday, February 5th. TheStreet upgraded DocuSign from a d+ rating to a c- rating in a report on Tuesday, December 19th. Finally, Needham & Company LLC restated a hold rating on shares of DocuSign in a research note on Friday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $60.25.

DocuSign Stock Down 3.8 %

DocuSign stock opened at $56.67 on Friday. The stock has a 50-day simple moving average of $55.44 and a 200 day simple moving average of $51.84. DocuSign has a 12-month low of $38.11 and a 12-month high of $64.76. The stock has a market capitalization of $11.64 billion, a price-to-earnings ratio of 157.42, a P/E/G ratio of 5.15 and a beta of 0.89.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, March 7th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. DocuSign had a return on equity of 13.91% and a net margin of 2.68%. The business had revenue of $712.39 million during the quarter, compared to analysts’ expectations of $698.05 million. As a group, sell-side analysts anticipate that DocuSign will post 0.86 EPS for the current year.

Insider Activity at DocuSign

In other news, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $57.02, for a total transaction of $861,515.18. Following the sale, the insider now directly owns 8,959 shares of the company’s stock, valued at $510,842.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Allan C. Thygesen sold 7,680 shares of DocuSign stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $61.27, for a total transaction of $470,553.60. Following the sale, the chief executive officer now directly owns 111,767 shares of the company’s stock, valued at $6,847,964.09. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Shute sold 15,109 shares of DocuSign stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $57.02, for a total value of $861,515.18. Following the sale, the insider now directly owns 8,959 shares in the company, valued at $510,842.18. The disclosure for this sale can be found here. Insiders have sold 54,871 shares of company stock valued at $3,176,199 over the last ninety days. 17.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On DocuSign

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Teachers Retirement System lifted its stake in shares of DocuSign by 0.9% in the fourth quarter. New York State Teachers Retirement System now owns 18,282 shares of the company’s stock worth $1,087,000 after acquiring an additional 163 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of DocuSign by 1.9% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,965 shares of the company’s stock worth $514,000 after acquiring an additional 164 shares during the period. Integrated Wealth Concepts LLC lifted its stake in shares of DocuSign by 3.8% in the fourth quarter. Integrated Wealth Concepts LLC now owns 5,009 shares of the company’s stock worth $278,000 after acquiring an additional 182 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of DocuSign by 2.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 6,975 shares of the company’s stock worth $415,000 after acquiring an additional 184 shares during the period. Finally, Utah Retirement Systems lifted its stake in shares of DocuSign by 0.6% in the second quarter. Utah Retirement Systems now owns 34,587 shares of the company’s stock worth $1,984,000 after acquiring an additional 200 shares during the period. 77.64% of the stock is owned by institutional investors and hedge funds.

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.