Duck Creek Technologies, Inc. (NASDAQ:DCT) Receives Average Recommendation of “Buy” from Analysts

Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) have received a consensus rating of “Buy” from the ten analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $31.70.

DCT has been the subject of several research analyst reports. Wolfe Research lowered shares of Duck Creek Technologies from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $32.00 to $19.00 in a research note on Monday, April 4th. Barclays reduced their price objective on shares of Duck Creek Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, March 30th. Raymond James reduced their price objective on shares of Duck Creek Technologies from $36.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, April 1st. Royal Bank of Canada reduced their price objective on shares of Duck Creek Technologies from $38.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, April 1st. Finally, DA Davidson reduced their price objective on shares of Duck Creek Technologies from $38.00 to $34.00 in a research note on Friday, April 1st.

In other Duck Creek Technologies news, CFO Vincent A. Chippari sold 25,000 shares of the firm’s stock in a transaction on Tuesday, February 8th. The shares were sold at an average price of $24.29, for a total value of $607,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of DCT. Neuberger Berman Group LLC lifted its holdings in shares of Duck Creek Technologies by 756.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 2,226,454 shares of the company’s stock worth $98,495,000 after acquiring an additional 1,966,435 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Duck Creek Technologies by 190.1% during the 3rd quarter. Invesco Ltd. now owns 1,573,378 shares of the company’s stock worth $69,606,000 after acquiring an additional 1,031,038 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Duck Creek Technologies by 32.4% during the 3rd quarter. BlackRock Inc. now owns 2,954,572 shares of the company’s stock worth $130,709,000 after acquiring an additional 723,186 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Duck Creek Technologies by 40.7% during the 3rd quarter. Alliancebernstein L.P. now owns 2,445,789 shares of the company’s stock worth $108,202,000 after acquiring an additional 707,747 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Duck Creek Technologies by 12.2% during the 4th quarter. JPMorgan Chase & Co. now owns 3,917,382 shares of the company’s stock worth $117,953,000 after acquiring an additional 426,743 shares during the last quarter. 72.53% of the stock is owned by institutional investors.

Shares of DCT stock traded up $0.51 during trading hours on Monday, hitting $16.30. 8,782 shares of the company were exchanged, compared to its average volume of 778,245. The firm has a fifty day simple moving average of $20.71 and a 200 day simple moving average of $26.35. Duck Creek Technologies has a 52-week low of $15.53 and a 52-week high of $50.90. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of -407.00, a P/E/G ratio of 8.11 and a beta of -0.43.

Duck Creek Technologies (NASDAQ:DCT – Get Rating) last issued its quarterly earnings results on Thursday, March 31st. The company reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.03. Duck Creek Technologies had a negative net margin of 2.11% and a positive return on equity of 1.14%. The company had revenue of $76.42 million during the quarter, compared to analyst estimates of $72.57 million. During the same quarter last year, the business posted ($0.01) EPS. Duck Creek Technologies’s quarterly revenue was up 22.0% compared to the same quarter last year. Research analysts forecast that Duck Creek Technologies will post 0.04 EPS for the current fiscal year.

Duck Creek Technologies Company Profile (Get Rating)

Duck Creek Technologies, Inc provides software-as-a-service core systems to the property and casualty insurance industry in the United States and internationally. The company provides Duck Creek Policy, a solution that enables insurers to develop and launch new insurance products and manage various aspects of policy administration ranging from product definition to quoting, binding, and servicing; Duck Creek Billing that provides payment and invoicing capabilities, such as billing and collections, commission processing, disbursement management, and general ledger capabilities for insurance lines and bill types; and Duck Creek Claims that supports entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting, and closure.

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