Duck Creek Technologies (NASDAQ:DCT) Posts Earnings Results

Duck Creek Technologies (NASDAQ:DCT) released its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.03, MarketWatch Earnings reports. The firm had revenue of $58.90 million for the quarter, compared to the consensus estimate of $55.80 million. The business’s quarterly revenue was up 26.4% on a year-over-year basis.

NASDAQ DCT traded up $1.09 during trading hours on Friday, reaching $43.19. The company’s stock had a trading volume of 27,037 shares, compared to its average volume of 410,400. The firm’s 50-day moving average price is $42.97 and its 200-day moving average price is $42.54. Duck Creek Technologies has a 1 year low of $35.10 and a 1 year high of $48.00. The company has a market capitalization of $5.65 billion and a price-to-earnings ratio of -382.73.

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In related news, Director (Guernsey) Holdings L.P. Disco sold 720,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $39.77, for a total value of $28,634,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.50% of the stock is currently owned by insiders.

A number of research firms have issued reports on DCT. Needham & Company LLC boosted their price target on Duck Creek Technologies from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Royal Bank of Canada boosted their price target on Duck Creek Technologies from $45.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Zacks Investment Research upgraded Duck Creek Technologies from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, November 11th. Barclays boosted their price objective on Duck Creek Technologies from $43.00 to $48.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 21st. Finally, Raymond James boosted their price objective on Duck Creek Technologies from $44.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $46.50.

About Duck Creek Technologies

Duck Creek Technologies, Inc provides software-as-a-service core systems to the property and casualty insurance industry in North America. It offers Duck Creek Policy, a full lifecycle solution for the development of products and quoting, binding, and servicing of policies across various channels from agents and brokers to end-users; 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 the entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting, and closure.

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