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

Analysts forecast that Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) will post $71.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Duck Creek Technologies’ earnings, with the highest sales estimate coming in at $72.06 million and the lowest estimate coming in at $71.82 million. Duck Creek Technologies posted sales of $67.94 million during the same quarter last year, which suggests a positive year-over-year growth rate of 5.9%. The company is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Duck Creek Technologies will report full-year sales of $302.30 million for the current financial year, with estimates ranging from $301.70 million to $302.51 million. For the next year, analysts expect that the firm will post sales of $348.66 million, with estimates ranging from $344.00 million to $351.84 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Duck Creek Technologies.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last posted its earnings results on Thursday, March 31st. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.04. The firm had revenue of $76.42 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 22.0% on a year-over-year basis. During the same period last year, the company earned ($0.01) earnings per share.

Several equities analysts have commented on the company. Wolfe Research downgraded Duck Creek Technologies from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $32.00 to $19.00 in a research report on Monday, April 4th. JMP Securities dropped their target price on Duck Creek Technologies from $35.00 to $27.00 and set a “market outperform” rating for the company in a research report on Friday, April 1st. Royal Bank of Canada lowered their price objective on Duck Creek Technologies from $38.00 to $25.00 and set an “outperform” rating for the company in a research report on Friday, April 1st. Zacks Investment Research upgraded Duck Creek Technologies from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research report on Thursday, April 7th. Finally, Barclays lowered their price objective on Duck Creek Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research report 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 MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $31.70.

Duck Creek Technologies stock opened at $17.18 on Wednesday. The company has a market capitalization of $2.28 billion, a PE ratio of -429.50, a P/E/G ratio of 8.65 and a beta of 0.26. Duck Creek Technologies has a 12 month low of $14.90 and a 12 month high of $50.90. The stock has a 50-day moving average price of $18.54 and a two-hundred day moving average price of $24.03.

In other Duck Creek Technologies news, CFO Kevin R. Rhodes bought 3,000 shares of the stock in a transaction on Monday, April 25th. The stock was acquired at an average cost of $16.66 per share, for a total transaction of $49,980.00. Following the completion of the acquisition, the chief financial officer now owns 137,393 shares in the company, valued at approximately $2,288,967.38. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Psagot Value Holdings Ltd. Israel acquired a new stake in Duck Creek Technologies in the fourth quarter valued at approximately $29,000. First Horizon Advisors Inc. grew its stake in Duck Creek Technologies by 64.3% in the third quarter. First Horizon Advisors Inc. now owns 1,272 shares of the company’s stock valued at $33,000 after acquiring an additional 498 shares during the period. Prospera Financial Services Inc acquired a new stake in Duck Creek Technologies in the first quarter valued at approximately $38,000. MetLife Investment Management LLC acquired a new stake in Duck Creek Technologies in the first quarter valued at approximately $51,000. Finally, Steward Partners Investment Advisory LLC grew its stake in Duck Creek Technologies by 84.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,921 shares of the company’s stock valued at $58,000 after acquiring an additional 878 shares during the period. 71.84% of the stock is owned by hedge funds and other institutional investors.

About Duck Creek Technologies (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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