Federated Hermes Inc. Boosts Stake in DocuSign, Inc. (NASDAQ:DOCU)

Federated Hermes Inc. raised its stake in DocuSign, Inc. (NASDAQ:DOCU - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 422,859 shares of the company's stock after acquiring an additional 75,222 shares during the quarter. Federated Hermes Inc. owned approximately 0.21% of DocuSign worth $38,032,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Toronto Dominion Bank lifted its stake in DocuSign by 30.3% in the third quarter. Toronto Dominion Bank now owns 26,159 shares of the company's stock valued at $1,624,000 after purchasing an additional 6,081 shares during the last quarter. Rhumbline Advisers lifted its position in shares of DocuSign by 118.8% during the 4th quarter. Rhumbline Advisers now owns 608,123 shares of the company's stock valued at $54,695,000 after buying an additional 330,136 shares during the last quarter. KBC Group NV grew its stake in shares of DocuSign by 32.7% during the 4th quarter. KBC Group NV now owns 1,535,107 shares of the company's stock worth $138,067,000 after acquiring an additional 378,233 shares during the period. Jennison Associates LLC purchased a new stake in DocuSign in the 4th quarter worth about $12,897,000. Finally, Everence Capital Management Inc. bought a new stake in DocuSign in the 4th quarter valued at about $720,000. 77.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, insider James P. Shaughnessy sold 7,500 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $81.31, for a total value of $609,825.00. Following the sale, the insider now directly owns 45,875 shares of the company's stock, valued at approximately $3,730,096.25. This represents a 14.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Blake Jeffrey Grayson sold 16,111 shares of DocuSign stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $83.20, for a total transaction of $1,340,435.20. Following the completion of the transaction, the chief financial officer now directly owns 93,960 shares of the company's stock, valued at $7,817,472. This trade represents a 14.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,851 shares of company stock valued at $3,998,719 over the last quarter. Corporate insiders own 1.66% of the company's stock.

DocuSign Stock Up 1.5 %

Shares of NASDAQ:DOCU traded up $1.13 during trading on Friday, hitting $74.35. The stock had a trading volume of 2,008,138 shares, compared to its average volume of 2,728,131. The company has a market capitalization of $15.06 billion, a PE ratio of 15.33, a PEG ratio of 6.94 and a beta of 1.20. The firm's fifty day moving average is $82.95 and its 200 day moving average is $82.90. DocuSign, Inc. has a 12 month low of $48.70 and a 12 month high of $107.86.

DocuSign (NASDAQ:DOCU - Get Free Report) last posted its quarterly earnings data 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 return on equity of 14.90% and a net margin of 34.73%. The business had revenue of $776.25 million during the quarter, compared to the consensus estimate of $760.94 million. During the same quarter in the prior year, the company earned $0.76 earnings per share. The firm's quarterly revenue was up 9.0% compared to the same quarter last year. Equities research analysts expect that DocuSign, Inc. will post 1.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on DOCU shares. Needham & Company LLC reaffirmed a "hold" rating on shares of DocuSign in a report on Friday, March 14th. HSBC upgraded shares of DocuSign from a "reduce" rating to a "hold" rating and set a $70.00 price objective on the stock in a research report on Friday. William Blair raised DocuSign from a "market perform" rating to an "outperform" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. raised shares of DocuSign from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $70.00 to $75.00 in a research note on Monday, March 10th. Finally, Citigroup increased their target price on DocuSign from $113.00 to $115.00 and gave the company a "buy" rating in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, DocuSign currently has an average rating of "Hold" and an average target price of $93.85.

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.