ZWJ Investment Counsel Inc. Sells 1,054,512 Shares of DoubleVerify Holdings, Inc. $DV

Key Points

• ZWJ Investment Counsel cut its DoubleVerify stake by 62.3%, selling 1,054,512 shares and retaining 637,664 shares valued at approximately $8.6 million.
• Analyst sentiment is cautious: two analysts rate DoubleVerify a Buy and 14 rate it Hold, with an average price target of $13.52.
• DoubleVerify’s latest quarterly EPS of $0.22 exceeded estimates of $0.11, while revenue rose 2.5% year over year to $193.79 million but fell short of expectations.

ZWJ Investment Counsel Inc. decreased its holdings in DoubleVerify Holdings, Inc. (NYSE:DV - Free Report) by 62.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 637,664 shares of the company's stock after selling 1,054,512 shares during the quarter. ZWJ Investment Counsel Inc. owned approximately 0.41% of DoubleVerify worth $8,602,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DV. BlackRock Inc. raised its position in DoubleVerify by 19.6% during the 2nd quarter. BlackRock Inc. now owns 23,152,508 shares of the company's stock worth $250,973,000 after purchasing an additional 3,799,956 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of DoubleVerify in the second quarter valued at about $31,333,000. State Street Corp raised its position in shares of DoubleVerify by 23.3% during the second quarter. State Street Corp now owns 5,375,150 shares of the company's stock worth $58,267,000 after acquiring an additional 1,014,027 shares during the last quarter. Man Group plc bought a new position in shares of DoubleVerify during the second quarter worth about $9,026,000. Finally, SG Americas Securities LLC raised its position in shares of DoubleVerify by 1,278.9% during the first quarter. SG Americas Securities LLC now owns 862,047 shares of the company's stock worth $8,189,000 after acquiring an additional 799,528 shares during the last quarter. Institutional investors own 97.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on DV shares. BMO Capital Markets set a $13.60 target price on DoubleVerify in a report on Friday, August 7th. Scotiabank downgraded shares of DoubleVerify from an "outperform" rating to a "sector perform" rating and decreased their target price for the company from $15.00 to $13.60 in a research report on Friday, August 7th. Citizens Jmp lowered shares of DoubleVerify from a "market outperform" rating to a "hold" rating in a report on Friday, August 7th. Canaccord Genuity Group downgraded shares of DoubleVerify from a "buy" rating to a "hold" rating and dropped their price target for the stock from $16.00 to $13.60 in a research report on Friday, August 7th. Finally, Raymond James Financial downgraded shares of DoubleVerify from an "outperform" rating to a "market perform" rating in a research report on Friday, August 7th. Two equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $13.52.

DoubleVerify Trading Down 0.3%

Shares of DV stock opened at $13.52 on Thursday. The company has a market cap of $2.10 billion, a P/E ratio of 37.54, a PEG ratio of 1.48 and a beta of 0.99. DoubleVerify Holdings, Inc. has a fifty-two week low of $7.64 and a fifty-two week high of $13.65. The stock has a 50 day simple moving average of $13.36 and a two-hundred day simple moving average of $11.54. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.50 and a current ratio of 4.50.

DoubleVerify (NYSE:DV - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.11. DoubleVerify had a net margin of 7.66% and a return on equity of 8.77%. The company had revenue of $193.79 million for the quarter, compared to the consensus estimate of $202.23 million. During the same quarter in the previous year, the company earned $0.05 EPS. DoubleVerify's quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts forecast that DoubleVerify Holdings, Inc. will post 0.59 earnings per share for the current year.

About DoubleVerify

DoubleVerify Holdings, Inc is a software and data analytics company that provides measurement, verification and optimization services for digital advertising. Its platform helps advertisers, agencies, publishers and digital media platforms evaluate whether advertising was delivered to legitimate audiences, appeared in suitable environments and had an opportunity to be viewed.

The company's products and services address areas including ad fraud, viewability, brand safety and suitability, contextual targeting, media quality and campaign performance.

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