Chase Investment Counsel Corp Makes New $5.05 Million Investment in Docusign Inc. $DOCU

Chase Investment Counsel Corp purchased a new stake in Docusign Inc. (NASDAQ:DOCU) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 113,785 shares of the company’s stock, valued at approximately $5,054,000.

Several other institutional investors and hedge funds have also made changes to their positions in DOCU. Bank of America Corp DE grew its position in shares of Docusign by 23.3% in the first quarter. Bank of America Corp DE now owns 1,193,163 shares of the company’s stock valued at $56,568,000 after purchasing an additional 225,801 shares during the last quarter. Capital World Investors raised its position in shares of Docusign by 38.1% during the 4th quarter. Capital World Investors now owns 5,815,804 shares of the company’s stock worth $397,801,000 after purchasing an additional 1,603,900 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Docusign by 247.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 349,038 shares of the company’s stock worth $15,504,000 after purchasing an additional 248,597 shares during the last quarter. CWM LLC raised its position in shares of Docusign by 151.8% during the 4th quarter. CWM LLC now owns 47,290 shares of the company’s stock worth $3,235,000 after purchasing an additional 28,511 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in Docusign in the 4th quarter valued at approximately $6,897,000. 77.64% of the stock is currently owned by hedge funds and other institutional investors.

Docusign Price Performance

Shares of DOCU opened at $62.04 on Monday. The firm has a market cap of $11.85 billion, a PE ratio of 40.29, a price-to-earnings-growth ratio of 1.83 and a beta of 0.87. The company’s fifty day moving average is $49.99 and its two-hundred day moving average is $48.36. Docusign Inc. has a fifty-two week low of $40.16 and a fifty-two week high of $86.65.

Docusign (NASDAQ:DOCU) last announced its quarterly earnings data on Thursday, June 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.10. The company had revenue of $830.24 million during the quarter, compared to analysts’ expectations of $824.71 million. Docusign had a net margin of 9.59% and a return on equity of 17.48%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.90 EPS. As a group, equities research analysts anticipate that Docusign Inc. will post 2.03 earnings per share for the current year.

Insider Transactions at Docusign

In other Docusign news, CEO Allan C. Thygesen sold 26,250 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $46.02, for a total transaction of $1,208,025.00. Following the completion of the sale, the chief executive officer owned 159,038 shares of the company’s stock, valued at approximately $7,318,928.76. The trade was a 14.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider James P. Shaughnessy sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $45.54, for a total value of $546,480.00. Following the sale, the insider owned 52,815 shares of the company’s stock, valued at $2,405,195.10. This represents a 18.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 91,695 shares of company stock valued at $4,376,002 in the last ninety days. Company insiders own 0.59% of the company’s stock.

Wall Street Analysts Forecast Growth

DOCU has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on Docusign from $60.00 to $55.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. UBS Group set a $60.00 price objective on Docusign in a research report on Friday, June 5th. Jefferies Financial Group increased their price objective on Docusign from $45.00 to $50.00 and gave the company a “hold” rating in a research note on Friday, June 5th. BTIG Research dropped their price objective on Docusign from $70.00 to $60.00 and set a “buy” rating for the company in a research report on Friday, June 5th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Docusign in a research note on Friday, June 5th. Three investment analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Docusign currently has a consensus rating of “Hold” and an average target price of $60.27.

Docusign 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.