SYM FINANCIAL Corp Makes New Investment in DocuSign, Inc. (NASDAQ:DOCU)

SYM FINANCIAL Corp acquired a new stake in shares of DocuSign, Inc. (NASDAQ:DOCU) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 3,389 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in DocuSign in the 3rd quarter worth $28,000. Mather Group LLC. boosted its stake in shares of DocuSign by 4,338.5% in the second quarter. Mather Group LLC. now owns 577 shares of the company’s stock worth $31,000 after acquiring an additional 564 shares during the period. Brooklyn Investment Group purchased a new stake in shares of DocuSign during the third quarter worth about $33,000. Reston Wealth Management LLC bought a new stake in DocuSign during the 3rd quarter valued at approximately $47,000. Finally, nVerses Capital LLC purchased a new position in DocuSign in the 2nd quarter worth approximately $48,000. 77.64% of the stock is currently owned by institutional investors.

DocuSign Price Performance

NASDAQ:DOCU opened at $83.68 on Friday. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 8.33 and a beta of 0.92. The business has a 50 day simple moving average of $73.75 and a 200-day simple moving average of $61.68. DocuSign, Inc. has a 1 year low of $44.34 and a 1 year high of $86.75.

DocuSign (NASDAQ:DOCU) last released its quarterly earnings results on Thursday, September 5th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.17. DocuSign had a net margin of 34.56% and a return on equity of 16.18%. The firm had revenue of $736.03 million during the quarter, compared to analysts’ expectations of $727.20 million. During the same period in the previous year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, analysts expect that DocuSign, Inc. will post 1.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on DOCU shares. Needham & Company LLC reaffirmed a “hold” rating on shares of DocuSign in a report on Friday, September 6th. Citigroup raised their target price on shares of DocuSign from $86.00 to $87.00 and gave the company a “buy” rating in a research note on Friday, September 6th. Wells Fargo & Company boosted their price target on shares of DocuSign from $48.00 to $50.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on DocuSign from $50.00 to $70.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Robert W. Baird lifted their target price on DocuSign from $55.00 to $59.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.73.

Insiders Place Their Bets

In related news, Director Teresa Briggs sold 534 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $56.56, for a total transaction of $30,203.04. Following the completion of the sale, the director now directly owns 7,202 shares of the company’s stock, valued at approximately $407,345.12. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Blake Jeffrey Grayson sold 14,036 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $55.47, for a total value of $778,576.92. Following the transaction, the chief financial officer now owns 87,611 shares of the company’s stock, valued at approximately $4,859,782.17. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,596 shares of company stock valued at $4,441,529 over the last 90 days. 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.