Rhumbline Advisers boosted its position in Duck Creek Technologies, Inc. (NASDAQ:DCT) by 330.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,802 shares of the company’s stock after purchasing an additional 52,813 shares during the quarter. Rhumbline Advisers owned approximately 0.05% of Duck Creek Technologies worth $3,106,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of DCT. California Public Employees Retirement System raised its holdings in Duck Creek Technologies by 50.4% in the fourth quarter. California Public Employees Retirement System now owns 51,444 shares of the company’s stock worth $2,228,000 after purchasing an additional 17,228 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Duck Creek Technologies by 59.2% during the fourth quarter. Treasurer of the State of North Carolina now owns 8,360 shares of the company’s stock valued at $362,000 after acquiring an additional 3,110 shares in the last quarter. Baker Tilly Financial LLC bought a new position in shares of Duck Creek Technologies during the fourth quarter valued at $645,000. State of Wisconsin Investment Board increased its holdings in shares of Duck Creek Technologies by 5.9% during the fourth quarter. State of Wisconsin Investment Board now owns 7,320 shares of the company’s stock valued at $317,000 after acquiring an additional 410 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Duck Creek Technologies by 11.4% during the fourth quarter. US Bancorp DE now owns 50,453 shares of the company’s stock valued at $2,184,000 after acquiring an additional 5,157 shares in the last quarter. Institutional investors and hedge funds own 72.51% of the company’s stock.
Shares of NASDAQ:DCT opened at $38.76 on Friday. The stock has a market capitalization of $5.10 billion and a PE ratio of -352.36. The stock has a 50-day moving average price of $40.44. Duck Creek Technologies, Inc. has a 52-week low of $33.91 and a 52-week high of $59.40.
In other news, CRO Biert Eugene Jr. Van sold 13,650 shares of the firm’s stock in a transaction dated Tuesday, March 16th. The stock was sold at an average price of $45.75, for a total value of $624,487.50. Following the transaction, the executive now owns 261,070 shares of the company’s stock, valued at $11,943,952.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Vincent A. Chippari sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $38.76, for a total value of $969,000.00. Following the completion of the transaction, the chief financial officer now directly owns 450,987 shares in the company, valued at approximately $17,480,256.12. The disclosure for this sale can be found here. Insiders sold 186,765 shares of company stock worth $7,953,907 over the last three months. Insiders own 4.30% of the company’s stock.
Several equities analysts have recently weighed in on the company. DA Davidson restated a “buy” rating on shares of Duck Creek Technologies in a report on Wednesday, May 5th. JMP Securities raised their price target on Duck Creek Technologies from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, April 6th. Wolfe Research assumed coverage on Duck Creek Technologies in a report on Thursday, April 22nd. They set an “outperform” rating and a $50.00 price target for the company. Finally, Zacks Investment Research upgraded Duck Creek Technologies from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a report on Tuesday, April 20th. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Duck Creek Technologies currently has an average rating of “Buy” and a consensus price target of $48.27.
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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