Hillsdale Investment Management Inc. Takes $220,000 Position in CS Disco, Inc. (NYSE:LAW)

Hillsdale Investment Management Inc. acquired a new stake in shares of CS Disco, Inc. (NYSE:LAW) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 27,100 shares of the company’s stock, valued at approximately $220,000.

Several other large investors also recently made changes to their positions in LAW. Nisa Investment Advisors LLC acquired a new position in shares of CS Disco in the fourth quarter worth about $27,000. Tower Research Capital LLC TRC boosted its holdings in shares of CS Disco by 42.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,020 shares of the company’s stock worth $46,000 after buying an additional 1,802 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of CS Disco in the first quarter worth about $52,000. State Board of Administration of Florida Retirement System acquired a new position in shares of CS Disco in the first quarter worth about $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of CS Disco by 29.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,778 shares of the company’s stock worth $120,000 after buying an additional 3,600 shares during the period. Institutional investors own 58.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LAW. Needham & Company LLC reduced their price target on shares of CS Disco from $15.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, May 10th. JPMorgan Chase & Co. lowered shares of CS Disco from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $8.00 to $5.00 in a research report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.31.

CS Disco Price Performance

LAW traded up $0.30 during midday trading on Monday, hitting $5.76. 160,594 shares of the company’s stock traded hands, compared to its average volume of 260,670. The company has a market cap of $345.48 million, a PE ratio of -10.67 and a beta of 2.09. The stock’s fifty day simple moving average is $5.87 and its 200-day simple moving average is $7.08. CS Disco, Inc. has a one year low of $4.92 and a one year high of $10.77.

CS Disco (NYSE:LAW) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.05). The business had revenue of $35.60 million for the quarter, compared to the consensus estimate of $35.52 million. CS Disco had a negative net margin of 23.03% and a negative return on equity of 15.04%. CS Disco’s revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.32) EPS. On average, research analysts expect that CS Disco, Inc. will post -0.68 EPS for the current year.

CS Disco Company Profile

CS Disco, Inc provides cloud-native and artificial intelligence-powered legal solutions for legal hold, legal request, ediscovery, legal document review, and case management in the United States and internationally. It offers DISCO Request, a solution that automates response compliance for legal requests; and DISCO Ediscovery, a solution that automates the ediscovery process and saves legal departments from manual tasks associated with collecting, processing, enriching, searching, reviewing, analyzing, producing, and using enterprise data that is at issue in legal matters.