Duck Creek Technologies, Inc. (NASDAQ:DCT) Sees Significant Increase in Short Interest – MarketBeat
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Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 2,580,000 shares, a growth of 12.2% from the September 30th total of 2,300,000 shares. Based on an average daily volume of 735,400 shares, the days-to-cover ratio is currently 3.5 days. Currently, 3.4% of the company’s shares are short sold.
Duck Creek Technologies Price Performance
Shares of Duck Creek Technologies stock traded down $0.37 during trading on Friday, hitting $12.17. 577,285 shares of the company’s stock traded hands, compared to its average volume of 1,003,541. Duck Creek Technologies has a 1 year low of $10.55 and a 1 year high of $32.49. The stock has a market capitalization of $1.61 billion, a P/E ratio of -202.80, a PEG ratio of 6.67 and a beta of 0.33. The business has a 50-day simple moving average of $11.87 and a 200-day simple moving average of $14.07.
Duck Creek Technologies (NASDAQ:DCT – Get Rating) last released its quarterly earnings data on Wednesday, October 12th. The company reported $0.03 EPS for the quarter, beating the consensus estimate of $0.02 by $0.01. Duck Creek Technologies had a positive return on equity of 1.03% and a negative net margin of 2.75%. The company had revenue of $80.70 million for the quarter, compared to analysts’ expectations of $73.08 million. During the same period last year, the firm posted $0.02 earnings per share. Duck Creek Technologies’s revenue was up 13.8% compared to the same quarter last year. On average, equities analysts predict that Duck Creek Technologies will post 0.06 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on the company. Royal Bank of Canada decreased their target price on Duck Creek Technologies from $14.00 to $12.00 and set a “sector perform” rating for the company in a report on Thursday, October 13th. Needham & Company LLC decreased their target price on Duck Creek Technologies from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, October 13th. Raymond James decreased their target price on Duck Creek Technologies from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, October 13th. Barclays decreased their target price on Duck Creek Technologies from $21.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 12th. Finally, DA Davidson reduced their price target on Duck Creek Technologies from $30.00 to $27.00 in a research note on Thursday, October 13th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $18.25.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. raised its stake in shares of Duck Creek Technologies by 1,040.6% in the second quarter. First Horizon Advisors Inc. now owns 2,133 shares of the company’s stock worth $31,000 after buying an additional 1,946 shares during the period. Prospera Financial Services Inc bought a new position in shares of Duck Creek Technologies in the first quarter worth about $38,000. Allspring Global Investments Holdings LLC bought a new position in shares of Duck Creek Technologies in the third quarter worth about $39,000. Wolff Wiese Magana LLC raised its stake in shares of Duck Creek Technologies by 50.0% in the second quarter. Wolff Wiese Magana LLC now owns 2,711 shares of the company’s stock worth $40,000 after buying an additional 904 shares during the period. Finally, Nisa Investment Advisors LLC bought a new position in shares of Duck Creek Technologies in the second quarter worth about $50,000. Institutional investors own 77.28% of the company’s stock.
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.
Further Reading
- Get a free copy of the StockNews.com research report on Duck Creek Technologies (DCT)
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