Duck Creek Technologies, Inc. (NASDAQ:DCT) Receives Consensus Recommendation of "Hold" from Analysts – MarketBeat

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Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) has received a consensus recommendation of “Hold” from the eleven analysts that are currently covering the company, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $27.56.
DCT has been the subject of a number of research analyst reports. Bank of America lowered shares of Duck Creek Technologies from a “buy” rating to a “neutral” rating and cut their price objective for the company from $39.00 to $16.00 in a report on Thursday, June 30th. Royal Bank of Canada lowered shares of Duck Creek Technologies from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $18.00 to $14.00 in a report on Tuesday, July 19th. Barclays cut their target price on shares of Duck Creek Technologies from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, June 30th. Raymond James cut their target price on shares of Duck Creek Technologies from $24.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, June 30th. Finally, DA Davidson cut their target price on shares of Duck Creek Technologies to $30.00 in a report on Monday, July 4th.

Duck Creek Technologies Trading Down 3.1 %

Duck Creek Technologies stock opened at $12.05 on Friday. Duck Creek Technologies has a 12-month low of $12.02 and a 12-month high of $50.90. The firm has a 50 day moving average of $13.87 and a 200 day moving average of $16.09. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -150.63, a P/E/G ratio of 4.85 and a beta of 0.37.
Duck Creek Technologies (NASDAQ:DCT – Get Rating) last announced 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 negative net margin of 3.93% and a positive return on equity of 0.69%. The business had revenue of $72.36 million during the quarter, compared to analyst estimates of $72.08 million. During the same period last year, the firm posted $0.02 EPS. The company’s revenue was up 6.5% on a year-over-year basis. On average, analysts predict that Duck Creek Technologies will post 0.05 EPS for the current year.

Insider Buying and Selling

In related news, insider Eva F. Harris purchased 3,516 shares of the stock in a transaction that occurred on Friday, July 1st. The stock was bought at an average cost of $14.25 per share, for a total transaction of $50,103.00. Following the completion of the transaction, the insider now directly owns 76,901 shares in the company, valued at $1,095,839.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of Duck Creek Technologies

Several institutional investors and hedge funds have recently made changes to their positions in DCT. Advisor Group Holdings Inc. lifted its position in shares of Duck Creek Technologies by 8.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 37,670 shares of the company’s stock worth $1,135,000 after purchasing an additional 2,888 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Duck Creek Technologies during the fourth quarter worth $512,000. First Trust Advisors LP bought a new stake in shares of Duck Creek Technologies in the fourth quarter valued at about $1,028,000. State Board of Administration of Florida Retirement System lifted its stake in Duck Creek Technologies by 35.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 65,509 shares of the company’s stock worth $1,972,000 after acquiring an additional 17,168 shares during the period. Finally, Raymond James & Associates grew its holdings in Duck Creek Technologies by 13.8% during the 4th quarter. Raymond James & Associates now owns 516,111 shares of the company’s stock worth $15,540,000 after acquiring an additional 62,592 shares in the last quarter. 71.84% of the stock is currently owned by institutional investors.

About Duck Creek Technologies

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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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