Brokerages Set Duck Creek Technologies, Inc. (NASDAQ:DCT) PT at $52.86

Duck Creek Technologies, Inc. (NASDAQ:DCT) has received a consensus rating of “Buy” from the ten research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $52.86.

A number of research analysts recently issued reports on DCT shares. Zacks Investment Research lowered Duck Creek Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, September 8th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of Duck Creek Technologies in a research report on Friday, July 9th. JPMorgan Chase & Co. upgraded Duck Creek Technologies from a “neutral” rating to an “overweight” rating and set a $62.00 price objective for the company in a research report on Tuesday, July 13th. Stifel Nicolaus lifted their target price 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. Finally, Barclays cut their target price 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.

In other news, CFO Vincent A. Chippari sold 49,940 shares of the business’s stock in a transaction on Monday, July 12th. The stock was sold at an average price of $40.36, for a total transaction of $2,015,578.40. Following the sale, the chief financial officer now directly owns 410,344 shares of the company’s stock, valued at $16,561,483.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Vincent A. Chippari sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 1st. The stock was sold at an average price of $46.53, for a total value of $1,163,250.00. 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 three months. Company insiders own 4.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in shares of Duck Creek Technologies by 87.5% during the first quarter. JPMorgan Chase & Co. now owns 4,481,453 shares of the company’s stock valued at $202,293,000 after buying an additional 2,091,448 shares in the last quarter. California State Teachers Retirement System grew its stake in Duck Creek Technologies by 217.3% in the first quarter. California State Teachers Retirement System now owns 129,188 shares of the company’s stock valued at $5,832,000 after purchasing an additional 88,473 shares in the last quarter. Capital Asset Advisory Services LLC purchased a new position in Duck Creek Technologies in the first quarter valued at about $382,000. Bank of New York Mellon Corp grew its stake in Duck Creek Technologies by 162.5% in the first quarter. Bank of New York Mellon Corp now owns 151,631 shares of the company’s stock valued at $6,844,000 after purchasing an additional 93,858 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Duck Creek Technologies by 330.3% in the first quarter. Rhumbline Advisers now owns 68,802 shares of the company’s stock valued at $3,106,000 after purchasing an additional 52,813 shares in the last quarter. Institutional investors and hedge funds own 72.10% of the company’s stock.

Shares of DCT traded up $0.11 during mid-day trading on Friday, hitting $49.72. The stock had a trading volume of 4,435 shares, compared to its average volume of 657,840. Duck Creek Technologies has a fifty-two week low of $33.91 and a fifty-two week high of $59.40. The company has a market cap of $6.55 billion and a PE ratio of -190.81. The company’s fifty day simple moving average is $45.20 and its two-hundred day simple moving average is $43.02.

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

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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