Duck Creek Technologies (NASDAQ:DCT) posted its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03, MarketWatch Earnings reports. The firm had revenue of $58.90 million during the quarter, compared to the consensus estimate of $55.80 million. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year.
Duck Creek Technologies stock traded up $1.01 during midday trading on Friday, reaching $43.11. The stock had a trading volume of 15,644 shares, compared to its average volume of 410,400. The firm’s fifty day simple moving average is $42.97 and its 200-day simple moving average is $42.54. Duck Creek Technologies has a 1-year low of $35.10 and a 1-year high of $48.00. The stock has a market capitalization of $5.64 billion and a P/E ratio of -382.73.
A number of equities research analysts have recently commented on DCT shares. Raymond James raised their price target on Duck Creek Technologies from $44.00 to $49.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Barclays raised their price target on Duck Creek Technologies from $43.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 21st. Needham & Company LLC raised their price target on Duck Creek Technologies from $47.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, October 21st. Zacks Investment Research raised Duck Creek Technologies from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, November 11th. Finally, Royal Bank of Canada raised their price target on Duck Creek Technologies from $45.00 to $51.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $46.50.
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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