Duck Creek Technologies, Inc. (NASDAQ:DCT) Given Average Rating of “Hold” by Brokerages

Shares of Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) have been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $23.50.

Several equities analysts have commented on the stock. Bank of America downgraded shares of Duck Creek Technologies from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $39.00 to $16.00 in a report on Thursday, June 30th. Royal Bank of Canada downgraded shares of Duck Creek Technologies from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $18.00 to $14.00 in a research note on Tuesday, July 19th. DA Davidson decreased their price target on shares of Duck Creek Technologies to $30.00 in a research note on Monday, July 4th. Raymond James decreased their price target on shares of Duck Creek Technologies from $24.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, June 30th. Finally, JMP Securities downgraded shares of Duck Creek Technologies from an “outperform” rating to a “market perform” rating in a research note on Friday, July 1st.

Insider Buying and Selling

In other news, insider Eva F. Harris acquired 3,516 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was acquired at an average price of $14.25 per share, with a total value of $50,103.00. Following the completion of the transaction, the insider now directly owns 76,901 shares of the company’s stock, valued at approximately $1,095,839.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in shares of Duck Creek Technologies by 72.0% in the second quarter. Federated Hermes Inc. now owns 85,262 shares of the company’s stock worth $1,267,000 after acquiring an additional 35,699 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Duck Creek Technologies by 50.1% in the second quarter. Legal & General Group Plc now owns 70,711 shares of the company’s stock worth $1,050,000 after acquiring an additional 23,617 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Duck Creek Technologies by 34.9% in the second quarter. Goldman Sachs Group Inc. now owns 168,213 shares of the company’s stock worth $2,498,000 after acquiring an additional 43,560 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Duck Creek Technologies by 11.9% in the second quarter. Captrust Financial Advisors now owns 7,734 shares of the company’s stock worth $115,000 after acquiring an additional 825 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Duck Creek Technologies in the second quarter worth about $65,000. Institutional investors own 77.28% of the company’s stock.

Duck Creek Technologies Price Performance

NASDAQ:DCT opened at $11.78 on Thursday. Duck Creek Technologies has a one year low of $11.41 and a one year high of $49.01. The company has a market cap of $1.56 billion, a P/E ratio of -147.25, a P/E/G ratio of 5.99 and a beta of 0.44. The firm’s fifty day moving average price is $13.06 and its two-hundred day moving average price is $15.38.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last released its quarterly earnings data on Wednesday, June 29th. The company reported $0.01 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 firm had revenue of $72.36 million for the quarter, compared to the consensus estimate of $72.08 million. During the same period in the previous year, the company earned $0.02 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts expect that Duck Creek Technologies will post 0.05 earnings per share for the current year.

About Duck Creek Technologies

(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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Analyst Recommendations for Duck Creek Technologies (NASDAQ:DCT)

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