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

Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT) have received a consensus recommendation of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $52.86.

Several analysts have commented on the stock. JPMorgan Chase & Co. raised shares of Duck Creek Technologies from a “neutral” rating to an “overweight” rating and set a $62.00 price target for the company in a research report on Tuesday, July 13th. Barclays decreased their price objective on shares of Duck Creek Technologies from $49.00 to $43.00 and set an “equal weight” rating for the company in a research report on Friday, July 9th. Stifel Nicolaus increased their price objective on shares of Duck Creek Technologies from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, September 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Duck Creek Technologies in a research report on Friday, July 9th. Finally, Zacks Investment Research lowered shares of Duck Creek Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 8th.

In other news, CRO Biert Eugene Jr. Van sold 13,650 shares of the stock in a transaction that occurred on Thursday, September 16th. The stock was sold at an average price of $49.57, for a total transaction of $676,630.50. Following the transaction, the executive now owns 230,033 shares in the company, valued at approximately $11,402,735.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Matthew R. Foster sold 1,540 shares of the stock in a transaction that occurred on Wednesday, July 7th. The shares were sold at an average price of $44.00, for a total value of $67,760.00. Following the transaction, the chief operating officer now owns 546,781 shares in the company, valued at approximately $24,058,364. The disclosure for this sale can be found here. Insiders have sold a total of 167,190 shares of company stock worth $7,379,808 in the last ninety days. Corporate insiders own 4.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Duck Creek Technologies by 6.0% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,780,067 shares of the company’s stock valued at $686,590,000 after purchasing an additional 895,379 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Duck Creek Technologies by 1.6% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,204,410 shares of the company’s stock worth $269,954,000 after acquiring an additional 100,474 shares during the period. Vanguard Group Inc. raised its holdings in shares of Duck Creek Technologies by 5.0% during the 2nd quarter. Vanguard Group Inc. now owns 5,928,766 shares of the company’s stock worth $257,960,000 after acquiring an additional 283,119 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Duck Creek Technologies by 87.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,481,453 shares of the company’s stock worth $202,293,000 after acquiring an additional 2,091,448 shares during the period. Finally, BlackRock Inc. raised its holdings in shares of Duck Creek Technologies by 102.4% during the 1st quarter. BlackRock Inc. now owns 2,881,346 shares of the company’s stock worth $130,064,000 after acquiring an additional 1,457,979 shares during the period. Institutional investors own 72.10% of the company’s stock.

NASDAQ:DCT traded down $0.33 during mid-day trading on Friday, reaching $49.28. The company’s stock had a trading volume of 3,019,321 shares, compared to its average volume of 487,564. Duck Creek Technologies has a 1 year low of $33.91 and a 1 year high of $59.40. The stock has a fifty day moving average of $45.39 and a 200-day moving average of $42.98. The firm has a market capitalization of $6.49 billion and a PE ratio of -189.54.

Duck Creek Technologies (NASDAQ:DCT) last released its quarterly earnings data on Wednesday, July 7th. The company reported $0.03 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The company had revenue of $67.90 million during the quarter, compared to analyst estimates of $63.81 million. Duck Creek Technologies had a negative net margin of 13.26% and a negative return on equity of 2.36%. Duck Creek Technologies’s revenue for the quarter was up 25.7% on a year-over-year basis.

Duck Creek Technologies Company Profile

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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Analyst Recommendations for Duck Creek Technologies (NASDAQ:DCT)

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