State Board of Administration of Florida Retirement System Sells 48,863 Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT)

State Board of Administration of Florida Retirement System cut its stake in shares of Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) by 74.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,476 shares of the company’s stock after selling 48,863 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Duck Creek Technologies were worth $245,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. M&T Bank Corp lifted its stake in Duck Creek Technologies by 6.8% during the 2nd quarter. M&T Bank Corp now owns 111,228 shares of the company’s stock valued at $1,652,000 after acquiring an additional 7,085 shares in the last quarter. Markel Corp raised its stake in shares of Duck Creek Technologies by 32.4% during the 2nd quarter. Markel Corp now owns 12,250 shares of the company’s stock worth $182,000 after purchasing an additional 3,000 shares during the period. Bank of Nova Scotia bought a new stake in shares of Duck Creek Technologies during the 2nd quarter worth $1,887,000. Nisa Investment Advisors LLC bought a new stake in shares of Duck Creek Technologies during the 2nd quarter worth $50,000. Finally, Advisory Services Network LLC raised its stake in shares of Duck Creek Technologies by 118.8% during the 2nd quarter. Advisory Services Network LLC now owns 30,297 shares of the company’s stock worth $450,000 after purchasing an additional 16,447 shares during the period. 77.28% of the stock is currently owned by institutional investors.

Duck Creek Technologies Trading Down 0.5 %

Shares of NASDAQ DCT opened at $11.00 on Tuesday. Duck Creek Technologies, Inc. has a 12 month low of $10.04 and a 12 month high of $32.49. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -182.64, a PEG ratio of 5.88 and a beta of 0.35. The business has a 50-day moving average of $11.60 and a 200-day moving average of $12.88.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last issued its quarterly earnings data on Wednesday, October 12th. The company reported $0.01 EPS for the quarter. The company 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 revenue was up 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. On average, analysts predict that Duck Creek Technologies, Inc. will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on DCT shares. Raymond James lowered 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, October 13th. Royal Bank of Canada lowered their price objective on Duck Creek Technologies from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 13th. Barclays lowered their price objective on Duck Creek Technologies from $21.00 to $14.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 12th. Needham & Company LLC lowered their price objective on Duck Creek Technologies from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 13th. Finally, StockNews.com initiated coverage on Duck Creek Technologies in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.25.

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.

Further Reading

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Institutional Ownership by Quarter for Duck Creek Technologies (NASDAQ:DCT)

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