Duck Creek Technologies (NASDAQ:DCT) Issues Earnings Results, Beats Expectations By $0.03 EPS

Duck Creek Technologies (NASDAQ:DCT) issued its quarterly earnings data on Wednesday. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03, MarketWatch Earnings reports. The company had revenue of $58.90 million for the quarter, compared to the consensus estimate of $55.80 million. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year.

Shares of NASDAQ:DCT traded up $1.09 during trading on Friday, hitting $43.19. The stock had a trading volume of 27,037 shares, compared to its average volume of 410,400. Duck Creek Technologies has a 12-month low of $35.10 and a 12-month high of $48.00. The stock has a market capitalization of $5.65 billion and a price-to-earnings ratio of -382.73. The stock has a 50-day simple moving average of $42.97 and a two-hundred day simple moving average of $42.54.

A number of equities research analysts recently weighed in on DCT shares. Raymond James raised their price objective on Duck Creek Technologies from $44.00 to $49.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Barclays raised their price objective on Duck Creek Technologies from $43.00 to $48.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 21st. Royal Bank of Canada raised their price objective on Duck Creek Technologies from $45.00 to $51.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. Zacks Investment Research upgraded Duck Creek Technologies from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research note on Wednesday, November 11th. Finally, Needham & Company LLC increased their price target on Duck Creek Technologies from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Duck Creek Technologies currently has an average rating of “Buy” and an average target price of $46.50.

In other news, Director (Guernsey) Holdings L.P. Disco sold 720,000 shares of the firm’s stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $39.77, for a total value of $28,634,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.50% of the company’s stock.

About Duck Creek Technologies

Duck Creek Technologies, Inc provides software-as-a-service core systems to the property and casualty insurance industry in North America. It offers Duck Creek Policy, a full lifecycle solution for the development of products and quoting, binding, and servicing of policies across various channels from agents and brokers to end-users; 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 the entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting, and closure.

See Also: Market Timing

Earnings History for Duck Creek Technologies (NASDAQ:DCT)

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