FourThought Financial LLC Sells 4,936 Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT)

FourThought Financial LLC cut its stake in shares of Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) by 11.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 39,558 shares of the company’s stock after selling 4,936 shares during the period. FourThought Financial LLC’s holdings in Duck Creek Technologies were worth $469,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. M&T Bank Corp raised its stake in shares of Duck Creek Technologies by 2.6% during the third quarter. M&T Bank Corp now owns 114,171 shares of the company’s stock worth $1,353,000 after acquiring an additional 2,943 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Duck Creek Technologies by 4.8% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 17,546,504 shares of the company’s stock worth $207,926,000 after acquiring an additional 805,053 shares in the last quarter. Balyasny Asset Management LLC raised its stake in shares of Duck Creek Technologies by 105.5% during the third quarter. Balyasny Asset Management LLC now owns 209,557 shares of the company’s stock worth $2,484,000 after acquiring an additional 107,581 shares in the last quarter. State Street Corp raised its stake in shares of Duck Creek Technologies by 2.2% during the third quarter. State Street Corp now owns 1,566,568 shares of the company’s stock worth $18,564,000 after acquiring an additional 33,237 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Duck Creek Technologies by 88.6% during the third quarter. Jacobs Levy Equity Management Inc. now owns 410,720 shares of the company’s stock worth $4,867,000 after acquiring an additional 192,967 shares in the last quarter. 74.55% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DCT has been the topic of several research reports. DA Davidson downgraded shares of Duck Creek Technologies from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, February 8th. William Blair downgraded shares of Duck Creek Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 10th. Bank of America downgraded shares of Duck Creek Technologies from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $16.00 to $11.00 in a research note on Wednesday, January 4th. Raymond James downgraded shares of Duck Creek Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 17th. Finally, Needham & Company LLC downgraded shares of Duck Creek Technologies from a “buy” rating to a “hold” rating in a research note on Monday, January 9th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.78.

Duck Creek Technologies Trading Up 0.2 %

Shares of DCT stock opened at $18.97 on Friday. Duck Creek Technologies, Inc. has a 12 month low of $10.04 and a 12 month high of $23.05. The stock has a market cap of $2.60 billion, a PE ratio of -172.45, a price-to-earnings-growth ratio of 7.11 and a beta of 0.59. The company’s fifty day moving average price is $18.81 and its 200-day moving average price is $14.10.

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.