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

Duck Creek Technologies (NASDAQ:DCT) released its earnings results on Wednesday. The company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03, MarketWatch Earnings reports. The company had revenue of $58.90 million for the quarter, compared to analyst estimates of $55.80 million. The company’s quarterly revenue was up 26.4% on a year-over-year basis.

Shares of NASDAQ:DCT traded up $1.39 on Friday, hitting $43.49. The stock had a trading volume of 28,935 shares, compared to its average volume of 410,400. Duck Creek Technologies has a twelve month low of $35.10 and a twelve month high of $48.00. The firm’s 50 day moving average price is $42.97 and its 200-day moving average price is $42.54. The company has a market capitalization of $5.69 billion and a price-to-earnings ratio of -382.73.

In related news, Director (Guernsey) Holdings L.P. Disco sold 720,000 shares of the stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $39.77, for a total transaction of $28,634,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.50% of the stock is currently owned by corporate insiders.

DCT has been the subject of several research reports. Royal Bank of Canada increased their target price on shares of Duck Creek Technologies from $45.00 to $51.00 and gave the company an “outperform” rating in a research note 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 objective for the company in a research report on Wednesday, November 11th. Raymond James boosted 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 target price on Duck Creek Technologies from $43.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 21st. Finally, Needham & Company LLC boosted their price target on shares of Duck Creek Technologies from $47.00 to $53.00 and gave the company a “buy” rating in a report on Wednesday, October 21st. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $46.50.

Duck Creek Technologies Company Profile

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.

Read More: Initial Coin Offering (ICO)

Earnings History for Duck Creek Technologies (NASDAQ:DCT)

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