Zacks: Analysts Expect Duck Creek Technologies, Inc. (NASDAQ:DCT) Will Post Quarterly Sales of $71.96 Million

Analysts forecast that Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) will announce $71.96 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for Duck Creek Technologies’ earnings, with the lowest sales estimate coming in at $71.82 million and the highest estimate coming in at $72.06 million. Duck Creek Technologies posted sales of $67.94 million in the same quarter last year, which suggests a positive year over year growth rate of 5.9%. The firm is scheduled to announce its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Duck Creek Technologies will report full year sales of $302.24 million for the current fiscal year, with estimates ranging from $301.70 million to $302.51 million. For the next financial year, analysts expect that the business will report sales of $347.60 million, with estimates ranging from $344.00 million to $350.14 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Duck Creek Technologies.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last announced its quarterly earnings data on Thursday, March 31st. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. Duck Creek Technologies had a negative net margin of 2.11% and a positive return on equity of 1.14%. The business had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.57 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year.

A number of research analysts have issued reports on DCT shares. Barclays reduced their target price on shares of Duck Creek Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, March 30th. Needham & Company LLC reduced their price target on shares of Duck Creek Technologies from $40.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, April 1st. Raymond James reduced their price target on shares of Duck Creek Technologies from $36.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, April 1st. DA Davidson reduced their price target on shares of Duck Creek Technologies from $38.00 to $34.00 in a research note on Friday, April 1st. Finally, Zacks Investment Research lowered shares of Duck Creek Technologies from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $31.70.

Duck Creek Technologies stock opened at $19.55 on Wednesday. The firm has a 50-day moving average price of $17.68 and a two-hundred day moving average price of $22.81. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -488.75, a PEG ratio of 9.30 and a beta of 0.22. Duck Creek Technologies has a 52-week low of $14.90 and a 52-week high of $50.90.

In related news, CFO Kevin R. Rhodes acquired 3,000 shares of the company’s stock in a transaction on Monday, April 25th. The shares were purchased at an average price of $16.66 per share, for a total transaction of $49,980.00. Following the purchase, the chief financial officer now owns 137,393 shares in the company, valued at $2,288,967.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in DCT. Advisor Group Holdings Inc. grew its position in Duck Creek Technologies by 8.3% in the fourth quarter. Advisor Group Holdings Inc. now owns 37,670 shares of the company’s stock worth $1,135,000 after acquiring an additional 2,888 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in Duck Creek Technologies in the fourth quarter worth approximately $210,000. Squarepoint Ops LLC grew its position in Duck Creek Technologies by 335.3% in the fourth quarter. Squarepoint Ops LLC now owns 185,843 shares of the company’s stock worth $5,596,000 after acquiring an additional 143,148 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Duck Creek Technologies in the fourth quarter worth approximately $493,000. Finally, Neuberger Berman Group LLC grew its position in Duck Creek Technologies by 756.3% in the third quarter. Neuberger Berman Group LLC now owns 2,226,454 shares of the company’s stock worth $98,495,000 after acquiring an additional 1,966,435 shares in the last quarter. 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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