Duck Creek Technologies (NASDAQ:DCT – Get Rating) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, The Fly reports. They currently have a $19.00 target price on the stock, up from their prior target price of $14.00. Barclays‘s price target suggests a potential downside of 0.31% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on the stock. StockNews.com started coverage on shares of Duck Creek Technologies in a research report on Wednesday, October 12th. They set a “hold” rating on the stock. Bank of America cut shares of Duck Creek Technologies from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $16.00 to $11.00 in a research report on Wednesday, January 4th. DA Davidson dropped their price target on shares of Duck Creek Technologies from $30.00 to $27.00 in a research report on Thursday, October 13th. Needham & Company LLC cut shares of Duck Creek Technologies from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Raymond James dropped their price target on shares of Duck Creek Technologies from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, October 13th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $17.67.
Duck Creek Technologies Price Performance
Shares of DCT opened at $19.06 on Wednesday. The firm has a 50 day simple moving average of $12.02 and a two-hundred day simple moving average of $12.27. The company has a market cap of $2.53 billion, a P/E ratio of -173.27, a P/E/G ratio of 7.00 and a beta of 0.22. Duck Creek Technologies has a one year low of $10.04 and a one year high of $29.00.
Institutional Investors Weigh In On Duck Creek Technologies
Large investors have recently modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in shares of Duck Creek Technologies by 1,040.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,133 shares of the company’s stock worth $31,000 after purchasing an additional 1,946 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in Duck Creek Technologies in the 3rd quarter worth approximately $39,000. Wolff Wiese Magana LLC boosted its holdings in Duck Creek Technologies by 50.0% in the 2nd quarter. Wolff Wiese Magana LLC now owns 2,711 shares of the company’s stock worth $40,000 after buying an additional 904 shares during the period. Nisa Investment Advisors LLC bought a new position in Duck Creek Technologies in the 2nd quarter worth approximately $50,000. Finally, MetLife Investment Management LLC bought a new position in Duck Creek Technologies in the 1st quarter worth approximately $51,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.
About Duck Creek Technologies
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.
- Get a free copy of the StockNews.com research report on Duck Creek Technologies (DCT)
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