New Age Alpha Advisors LLC Has $3.35 Million Stock Holdings in Docusign Inc. (NASDAQ:DOCU)

Key Points

• New Age Alpha Advisors LLC substantially increased its holdings in Docusign Inc. by 738.2% in Q1, bringing its total investment to approximately $3.35 million with 41,187 shares owned.
• Docusign reported a quarterly EPS of $0.90, surpassing analysts' expectations of $0.81, along with a 7.6% year-over-year revenue increase to $763.65 million.
• The board of Docusign has authorized a $1 billion share buyback plan, indicating a belief by leadership that the stock is currently undervalued.

New Age Alpha Advisors LLC increased its holdings in shares of Docusign Inc. (NASDAQ:DOCU - Free Report) by 738.2% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 41,187 shares of the company's stock after purchasing an additional 36,273 shares during the period. New Age Alpha Advisors LLC's holdings in Docusign were worth $3,353,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Foundry Partners LLC lifted its position in shares of Docusign by 1.5% during the 1st quarter. Foundry Partners LLC now owns 8,491 shares of the company's stock worth $691,000 after purchasing an additional 125 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Docusign by 27.5% during the 1st quarter. Bessemer Group Inc. now owns 602 shares of the company's stock worth $49,000 after purchasing an additional 130 shares during the last quarter. Kingsview Wealth Management LLC lifted its position in shares of Docusign by 5.6% during the 1st quarter. Kingsview Wealth Management LLC now owns 2,655 shares of the company's stock worth $216,000 after purchasing an additional 141 shares during the last quarter. TD Waterhouse Canada Inc. lifted its position in shares of Docusign by 34.5% during the 4th quarter. TD Waterhouse Canada Inc. now owns 557 shares of the company's stock worth $50,000 after purchasing an additional 143 shares during the last quarter. Finally, Westbourne Investment Advisors Inc. lifted its position in shares of Docusign by 0.4% during the 1st quarter. Westbourne Investment Advisors Inc. now owns 45,996 shares of the company's stock worth $3,744,000 after purchasing an additional 161 shares during the last quarter. Institutional investors and hedge funds own 77.64% of the company's stock.

Docusign Stock Performance

Shares of DOCU opened at $73.84 on Wednesday. The firm has a market capitalization of $14.92 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 28.13 and a beta of 1.01. The business's fifty day moving average price is $78.75 and its two-hundred day moving average price is $82.38. Docusign Inc. has a 52 week low of $50.16 and a 52 week high of $107.86.

Docusign (NASDAQ:DOCU - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.81 by $0.09. The firm had revenue of $763.65 million for the quarter, compared to analyst estimates of $748.79 million. Docusign had a return on equity of 14.27% and a net margin of 36.50%. The business's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. As a group, research analysts forecast that Docusign Inc. will post 1.17 EPS for the current year.

Docusign declared that its board has authorized a share buyback plan on Thursday, June 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on DOCU. Wells Fargo & Company raised Docusign from an "underweight" rating to an "equal weight" rating and boosted their price objective for the stock from $67.00 to $80.00 in a research report on Friday, June 13th. Hsbc Global Res raised Docusign from a "moderate sell" rating to a "hold" rating in a report on Friday, April 11th. Citigroup cut their price target on Docusign from $115.00 to $110.00 and set a "buy" rating for the company in a report on Monday, June 9th. Robert W. Baird cut their price target on Docusign from $93.00 to $85.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Finally, UBS Group dropped their target price on Docusign from $85.00 to $80.00 and set a "neutral" rating for the company in a report on Friday, June 6th. Thirteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $89.77.

Insider Buying and Selling

In other news, CFO Blake Jeffrey Grayson sold 15,143 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $74.80, for a total value of $1,132,696.40. Following the transaction, the chief financial officer owned 110,723 shares of the company's stock, valued at $8,282,080.40. This represents a 12.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Teresa Briggs sold 534 shares of the stock in a transaction on Monday, June 16th. The shares were sold at an average price of $74.37, for a total value of $39,713.58. Following the completion of the transaction, the director directly owned 8,805 shares in the company, valued at approximately $654,827.85. This trade represents a 5.72% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,552 shares of company stock worth $5,983,631. Company insiders own 1.66% of the company's stock.

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.

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