Duck Creek Technologies (NASDAQ:DCT) Updates Q4 2022 Earnings Guidance – MarketBeat

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Duck Creek Technologies (NASDAQ:DCT – Get Rating) updated its fourth quarter 2022 earnings guidance on Wednesday. The company provided earnings per share guidance of $0.01-$0.02 for the period, compared to the consensus earnings per share estimate of $0.02. The company issued revenue guidance of $72.80 million-$74.80 million, compared to the consensus revenue estimate of $80.37 million. Duck Creek Technologies also updated its FY 2022 guidance to $0.09-$0.10 EPS.
Several equities research analysts have recently issued reports on DCT shares. JMP Securities lowered shares of Duck Creek Technologies from an outperform rating to a market perform rating in a research note on Friday, July 1st. Bank of America lowered Duck Creek Technologies from a buy rating to a neutral rating and lowered their target price for the company from $39.00 to $16.00 in a research note on Thursday, June 30th. Barclays cut their price target on Duck Creek Technologies from $25.00 to $21.00 and set an overweight rating for the company in a research note on Thursday, June 30th. Wolfe Research cut Duck Creek Technologies from an outperform rating to a market perform rating and lowered their price objective for the company from $32.00 to $19.00 in a research note on Monday, April 4th. Finally, DA Davidson cut their target price on shares of Duck Creek Technologies to $30.00 in a research report on Monday. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $27.90.
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Duck Creek Technologies stock opened at $16.20 on Wednesday. Duck Creek Technologies has a 1-year low of $13.44 and a 1-year high of $50.90. The firm has a market capitalization of $2.15 billion, a PE ratio of -202.50, a price-to-earnings-growth ratio of 7.18 and a beta of 0.48. The firm’s 50 day simple moving average is $17.38 and its 200 day simple moving average is $21.25.
Duck Creek Technologies (NASDAQ:DCT – Get Rating) last issued its quarterly earnings data on Wednesday, June 29th. The company reported $0.01 earnings per share (EPS) for the quarter. Duck Creek Technologies had a positive return on equity of 0.69% and a negative net margin of 3.93%. The company had revenue of $72.36 million for the quarter, compared to the consensus estimate of $72.08 million. During the same quarter last year, the business posted $0.02 earnings per share. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, research analysts anticipate that Duck Creek Technologies will post 0.04 earnings per share for the current year.
In related news, CFO Kevin R. Rhodes bought 3,000 shares of the stock in a transaction that occurred on Monday, April 25th. The shares were acquired at an average cost of $16.66 per share, with a total value of $49,980.00. Following the completion of the purchase, the chief financial officer now directly owns 137,393 shares of the company’s stock, valued at approximately $2,288,967.38. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its holdings in shares of Duck Creek Technologies by 2,798.4% during the 1st quarter. Federated Hermes Inc. now owns 49,563 shares of the company’s stock valued at $1,096,000 after purchasing an additional 47,853 shares during the last quarter. Ergoteles LLC bought a new position in shares of Duck Creek Technologies during the 1st quarter valued at $808,000. Wellington Management Group LLP bought a new position in shares of Duck Creek Technologies during the 1st quarter valued at $634,000. Eaton Vance Management bought a new position in shares of Duck Creek Technologies during the 1st quarter valued at $490,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Duck Creek Technologies during the 1st quarter valued at $489,000. Hedge funds and other institutional investors own 71.84% of the company’s stock.
Duck Creek Technologies Company Profile (Get Rating)
Duck Creek Technologies, Inc provides software-as-a-service core systems to the property and casualty insurance industry in the United States and internationally. The company provides Duck Creek Policy, a solution that enables insurers to develop and launch new insurance products and manage various aspects of policy administration ranging from product definition to quoting, binding, and servicing; 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 entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting, and closure.
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