Truist Financial Corp Purchases 5,926 Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT)

Truist Financial Corp increased its position in Duck Creek Technologies, Inc. (NASDAQ:DCT) by 12.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 54,602 shares of the company’s stock after acquiring an additional 5,926 shares during the quarter. Truist Financial Corp’s holdings in Duck Creek Technologies were worth $2,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. Koshinski Asset Management Inc. bought a new position in Duck Creek Technologies in the third quarter valued at about $37,000. Global Retirement Partners LLC lifted its holdings in Duck Creek Technologies by 2,016.0% in the third quarter. Global Retirement Partners LLC now owns 1,058 shares of the company’s stock valued at $47,000 after acquiring an additional 1,008 shares during the period. Atlantic Trust LLC bought a new position in Duck Creek Technologies in the second quarter valued at about $61,000. Steward Partners Investment Advisory LLC lifted its holdings in Duck Creek Technologies by 625.1% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,443 shares of the company’s stock valued at $63,000 after acquiring an additional 1,244 shares during the period. Finally, Heritage Wealth Management LLC lifted its holdings in Duck Creek Technologies by 122.9% in the second quarter. Heritage Wealth Management LLC now owns 2,162 shares of the company’s stock valued at $94,000 after acquiring an additional 1,192 shares during the period. Institutional investors own 71.68% of the company’s stock.

In other news, CFO Vincent A. Chippari sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $30.00, for a total value of $750,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Vincent A. Chippari sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, January 10th. The stock was sold at an average price of $28.01, for a total value of $1,400,500.00. The disclosure for this sale can be found here. Insiders sold a total of 75,003 shares of company stock valued at $2,150,601 over the last ninety days. Corporate insiders own 2.90% of the company’s stock.

NASDAQ:DCT opened at $27.36 on Friday. Duck Creek Technologies, Inc. has a 12-month low of $26.63 and a 12-month high of $59.40. The stock has a 50-day moving average price of $29.04 and a 200 day moving average price of $38.04. The stock has a market capitalization of $3.67 billion, a P/E ratio of -342.00 and a beta of -1.03.

Duck Creek Technologies (NASDAQ:DCT) last released its quarterly earnings results on Thursday, January 6th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.03. The business had revenue of $73.42 million during the quarter, compared to analysts’ expectations of $68.91 million. Duck Creek Technologies had a positive return on equity of 0.57% and a negative net margin of 4.22%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. Research analysts predict that Duck Creek Technologies, Inc. will post 0.02 EPS for the current year.

A number of research analysts have weighed in on the company. Barclays lowered their target price on Duck Creek Technologies from $41.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, January 7th. Needham & Company LLC decreased their price objective on Duck Creek Technologies from $55.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, January 7th. Zacks Investment Research raised Duck Creek Technologies from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective on the stock in a research note on Tuesday. Royal Bank of Canada decreased their price objective on Duck Creek Technologies from $47.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, January 7th. Finally, DA Davidson raised their price objective on Duck Creek Technologies from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Monday, October 11th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $43.20.

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.

Further Reading: Trading Halts Explained

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

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