Duck Creek Technologies, Inc. (NASDAQ:DCT) Expected to Announce Quarterly Sales of $71.95 Million

Equities research analysts expect that Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) will announce sales of $71.95 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Duck Creek Technologies’ earnings, with estimates ranging from $71.82 million to $72.06 million. Duck Creek Technologies reported sales of $67.94 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.9%. The firm is expected to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Duck Creek Technologies will report full year sales of $302.30 million for the current fiscal year, with estimates ranging from $301.70 million to $302.51 million. For the next fiscal year, analysts anticipate that the business will post sales of $348.66 million, with estimates ranging from $344.00 million to $351.84 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Duck Creek Technologies.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last posted its quarterly earnings data on Thursday, March 31st. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.03. The business had revenue of $76.42 million for the quarter, compared to analysts’ expectations of $72.57 million. Duck Creek Technologies had a positive return on equity of 1.14% and a negative net margin of 2.11%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS.

DCT has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased 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 report on Friday, April 1st. DA Davidson decreased their price objective on shares of Duck Creek Technologies from $38.00 to $34.00 in a report on Friday, April 1st. Zacks Investment Research upgraded shares of Duck Creek Technologies from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research note on Thursday, April 7th. Needham & Company LLC decreased their target price on shares of Duck Creek Technologies from $40.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, April 1st. Finally, Barclays decreased their target price 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Duck Creek Technologies has a consensus rating of “Buy” and a consensus price target of $31.70.

In other news, CFO Kevin R. Rhodes acquired 3,000 shares of Duck Creek Technologies stock in a transaction that occurred on Monday, April 25th. The shares were bought at an average cost of $16.66 per share, with a total value of $49,980.00. Following the transaction, the chief financial officer now directly owns 137,393 shares of the company’s stock, valued at approximately $2,288,967.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Vincent A. Chippari sold 25,000 shares of the stock in a transaction dated Tuesday, February 8th. The stock was sold at an average price of $24.29, for a total transaction of $607,250.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of DCT. Psagot Value Holdings Ltd. Israel bought a new position in shares of Duck Creek Technologies during the fourth quarter valued at approximately $29,000. First Horizon Advisors Inc. boosted its stake in shares of Duck Creek Technologies by 64.3% during the third quarter. First Horizon Advisors Inc. now owns 1,272 shares of the company’s stock valued at $33,000 after purchasing an additional 498 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Duck Creek Technologies by 84.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,921 shares of the company’s stock valued at $58,000 after purchasing an additional 878 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in shares of Duck Creek Technologies by 469.9% during the third quarter. Rockefeller Capital Management L.P. now owns 1,345 shares of the company’s stock valued at $59,000 after purchasing an additional 1,109 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY boosted its stake in shares of Duck Creek Technologies by 102.8% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 2,174 shares of the company’s stock valued at $65,000 after purchasing an additional 1,102 shares in the last quarter. 72.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of DCT opened at $15.75 on Thursday. The business’s 50 day moving average price is $20.25 and its 200-day moving average price is $26.01. Duck Creek Technologies has a 52 week low of $15.41 and a 52 week high of $50.90. The stock has a market cap of $2.09 billion, a P/E ratio of -393.75, a P/E/G ratio of 8.11 and a beta of -0.43.

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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