HighTower Advisors LLC Grows Stock Holdings in Duck Creek Technologies, Inc. (NASDAQ:DCT)

HighTower Advisors LLC lifted its stake in Duck Creek Technologies, Inc. (NASDAQ:DCT) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,233 shares of the company’s stock after purchasing an additional 1,189 shares during the period. HighTower Advisors LLC’s holdings in Duck Creek Technologies were worth $1,616,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its holdings in Duck Creek Technologies by 38.0% in the second quarter. Daiwa Securities Group Inc. now owns 131,066 shares of the company’s stock valued at $5,703,000 after purchasing an additional 36,106 shares during the period. Sei Investments Co. boosted its holdings in Duck Creek Technologies by 6.8% in the second quarter. Sei Investments Co. now owns 94,820 shares of the company’s stock valued at $4,126,000 after purchasing an additional 6,000 shares during the period. Segantii Capital Management Ltd purchased a new position in Duck Creek Technologies in the second quarter valued at $10,878,000. Swiss National Bank purchased a new position in Duck Creek Technologies in the second quarter valued at $3,785,000. Finally, FDx Advisors Inc. boosted its holdings in Duck Creek Technologies by 16.8% in the second quarter. FDx Advisors Inc. now owns 18,556 shares of the company’s stock valued at $807,000 after purchasing an additional 2,672 shares during the period. Hedge funds and other institutional investors own 72.10% of the company’s stock.

In other Duck Creek Technologies news, COO Matthew R. Foster sold 4,000 shares of Duck Creek Technologies stock in a transaction that occurred on Friday, June 25th. The stock was sold at an average price of $44.00, for a total value of $176,000.00. Following the sale, the chief operating officer now owns 548,321 shares of the company’s stock, valued at approximately $24,126,124. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Anirban Dey sold 2,000 shares of Duck Creek Technologies stock in a transaction that occurred on Monday, June 21st. The shares were sold at an average price of $40.46, for a total value of $80,920.00. Following the completion of the sale, the insider now directly owns 426,275 shares in the company, valued at approximately $17,247,086.50. The disclosure for this sale can be found here. Insiders sold a total of 153,540 shares of company stock worth $6,703,177 in the last 90 days. 4.30% of the stock is currently owned by insiders.

DCT has been the topic of a number of analyst reports. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of Duck Creek Technologies in a research note on Friday, July 9th. Zacks Investment Research cut Duck Creek Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, September 8th. JPMorgan Chase & Co. upgraded Duck Creek Technologies from a “neutral” rating to an “overweight” rating and set a $62.00 price target on the stock in a research note on Tuesday, July 13th. Barclays cut their price target on Duck Creek Technologies from $49.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, July 9th. Finally, Stifel Nicolaus raised their price target on Duck Creek Technologies from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, September 7th. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $52.40.

DCT opened at $49.61 on Friday. The business’s 50-day simple moving average is $45.20 and its 200-day simple moving average is $43.02. Duck Creek Technologies, Inc. has a one year low of $33.91 and a one year high of $59.40. The stock has a market capitalization of $6.53 billion and a P/E ratio of -190.81.

Duck Creek Technologies (NASDAQ:DCT) last issued its quarterly earnings results on Wednesday, July 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $67.90 million for the quarter, compared to analysts’ expectations of $63.81 million. Duck Creek Technologies had a negative return on equity of 2.36% and a negative net margin of 13.26%. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year.

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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Institutional Ownership by Quarter for Duck Creek Technologies (NASDAQ:DCT)

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