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

Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) has been assigned an average rating of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on 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.

Several brokerages recently weighed in on DCT. Barclays reduced their price target 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. Wolfe Research cut Duck Creek Technologies from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $32.00 to $19.00 in a research report on Monday, April 4th. Royal Bank of Canada reduced their price target 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. JMP Securities dropped their price objective on Duck Creek Technologies from $35.00 to $27.00 and set a “market outperform” rating on the stock in a report on Friday, April 1st. Finally, DA Davidson dropped their price objective on Duck Creek Technologies from $38.00 to $34.00 in a report on Friday, April 1st.

In other news, CFO Kevin R. Rhodes purchased 3,000 shares of the stock in a transaction dated Monday, April 25th. The shares were purchased at an average cost of $16.66 per share, with a total value of $49,980.00. Following the completion of the purchase, the chief financial officer now directly owns 137,393 shares of the company’s stock, valued at approximately $2,288,967.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP lifted its position in Duck Creek Technologies by 309.4% during the first quarter. Quantbot Technologies LP now owns 10,989 shares of the company’s stock worth $243,000 after buying an additional 8,305 shares in the last quarter. Royal Bank of Canada raised its position in Duck Creek Technologies by 10.2% in the first quarter. Royal Bank of Canada now owns 250,426 shares of the company’s stock valued at $5,540,000 after purchasing an additional 23,177 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Duck Creek Technologies in the first quarter valued at $489,000. Eaton Vance Management purchased a new stake in Duck Creek Technologies in the first quarter valued at $490,000. Finally, PDT Partners LLC raised its position in Duck Creek Technologies by 369.2% in the first quarter. PDT Partners LLC now owns 96,469 shares of the company’s stock valued at $2,134,000 after purchasing an additional 75,908 shares during the period. Hedge funds and other institutional investors own 71.84% of the company’s stock.

Shares of NASDAQ:DCT traded down $0.15 during trading on Friday, hitting $17.76. The stock had a trading volume of 14,934 shares, compared to its average volume of 831,719. Duck Creek Technologies has a 12-month low of $14.90 and a 12-month high of $50.90. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -443.75, a price-to-earnings-growth ratio of 8.57 and a beta of 0.26. The stock has a 50-day simple moving average of $18.37 and a two-hundred day simple moving average of $23.89.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last announced its quarterly earnings data on Thursday, March 31st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. The firm had revenue of $76.42 million during 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 company’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. Equities research analysts anticipate that Duck Creek Technologies will post 0.04 earnings per share for the current 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.

Further Reading

Analyst Recommendations for Duck Creek Technologies (NASDAQ:DCT)

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