Duck Creek Technologies, Inc. (NASDAQ:DCT) Given Consensus Recommendation of "Hold" by Brokerages – MarketBeat

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Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) has received a consensus rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $17.00.
A number of equities research analysts recently commented on DCT shares. DA Davidson dropped their price objective on shares of Duck Creek Technologies from $30.00 to $27.00 in a report on Thursday. Bank of America downgraded Duck Creek Technologies from a “buy” rating to a “neutral” rating and dropped their price target for the company from $39.00 to $16.00 in a research note on Thursday, June 30th. Needham & Company LLC decreased their price objective on Duck Creek Technologies from $20.00 to $16.00 and set a “buy” rating for the company in a report on Thursday. Raymond James cut their target price on Duck Creek Technologies from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Royal Bank of Canada decreased their price target on shares of Duck Creek Technologies from $14.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday.

Hedge Funds Weigh In On Duck Creek Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in DCT. Truist Financial Corp grew its position in shares of Duck Creek Technologies by 28.5% in the 1st quarter. Truist Financial Corp now owns 67,393 shares of the company’s stock valued at $1,491,000 after acquiring an additional 14,967 shares during the period. Envestnet Asset Management Inc. increased its position in Duck Creek Technologies by 25.9% during the first quarter. Envestnet Asset Management Inc. now owns 229,853 shares of the company’s stock worth $5,084,000 after buying an additional 47,320 shares during the last quarter. US Bancorp DE raised its stake in Duck Creek Technologies by 51.3% in the first quarter. US Bancorp DE now owns 54,035 shares of the company’s stock valued at $1,195,000 after buying an additional 18,324 shares during the period. FourThought Financial LLC raised its stake in Duck Creek Technologies by 27.6% in the 1st quarter. FourThought Financial LLC now owns 22,662 shares of the company’s stock valued at $501,000 after acquiring an additional 4,907 shares during the period. Finally, Equitable Trust Co. lifted its holdings in Duck Creek Technologies by 214.7% during the 2nd quarter. Equitable Trust Co. now owns 43,263 shares of the company’s stock valued at $642,000 after purchasing an additional 29,516 shares during the last quarter. 77.28% of the stock is owned by institutional investors.

Duck Creek Technologies Trading Down 0.9 %

NASDAQ:DCT opened at $11.84 on Monday. Duck Creek Technologies has a 1 year low of $10.55 and a 1 year high of $37.40. The stock has a 50-day moving average price of $12.27 and a two-hundred day moving average price of $14.52. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of -197.30, a PEG ratio of 5.97 and a beta of 0.33.
Duck Creek Technologies (NASDAQ:DCT – Get Rating) last issued its quarterly earnings data on Wednesday, October 12th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. The business had revenue of $80.70 million during the quarter, compared to analyst estimates of $73.08 million. Duck Creek Technologies had a positive return on equity of 1.03% and a negative net margin of 2.75%. Duck Creek Technologies’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.02 EPS. Sell-side analysts forecast that Duck Creek Technologies will post 0.04 earnings per share for the current year.

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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