Analysts Set Duck Creek Technologies, Inc. (NASDAQ:DCT) Price Target at $31.70

Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) has received an average rating of “Buy” from the ten brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $31.70.

Several analysts have commented on the company. Barclays reduced their price objective on Duck Creek Technologies from $38.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, March 30th. Royal Bank of Canada reduced their price objective on Duck Creek Technologies from $38.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, April 1st. Raymond James reduced their price objective on Duck Creek Technologies from $36.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, April 1st. DA Davidson reduced their price objective on Duck Creek Technologies from $38.00 to $34.00 in a research note on Friday, April 1st. Finally, Needham & Company LLC reduced their price objective on Duck Creek Technologies from $40.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, April 1st.

NASDAQ:DCT opened at $18.04 on Friday. The stock has a 50-day simple moving average of $18.35 and a 200-day simple moving average of $23.71. The stock has a market cap of $2.39 billion, a P/E ratio of -451.00, a P/E/G ratio of 8.95 and a beta of 0.26. Duck Creek Technologies has a 1 year low of $14.90 and a 1 year high of $50.90.

Duck Creek Technologies (NASDAQ:DCT – Get Rating) last announced its earnings results on Thursday, March 31st. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The firm had revenue of $76.42 million during the quarter, compared to analysts’ expectations of $72.57 million. Duck Creek Technologies had a positive return on equity of 1.14% and a negative net margin of 2.11%. The business’s revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) EPS. As a group, research analysts forecast that Duck Creek Technologies will post 0.04 EPS for the current fiscal year.

In other Duck Creek Technologies news, CFO Kevin R. Rhodes purchased 3,000 shares of the business’s stock in a transaction dated Monday, April 25th. The shares were bought at an average price of $16.66 per share, with a total value of $49,980.00. Following the completion of the acquisition, the chief financial officer now owns 137,393 shares in the company, valued at approximately $2,288,967.38. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Psagot Value Holdings Ltd. Israel bought a new stake in Duck Creek Technologies during the fourth quarter worth approximately $84,000. First Horizon Advisors Inc. increased its holdings in shares of Duck Creek Technologies by 64.3% in the third quarter. First Horizon Advisors Inc. now owns 1,272 shares of the company’s stock valued at $33,000 after buying an additional 498 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Duck Creek Technologies by 469.9% in the third quarter. Rockefeller Capital Management L.P. now owns 1,345 shares of the company’s stock valued at $59,000 after buying an additional 1,109 shares in the last quarter. Prospera Financial Services Inc bought a new position in shares of Duck Creek Technologies in the first quarter valued at $38,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Duck Creek Technologies by 84.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,921 shares of the company’s stock valued at $58,000 after buying an additional 878 shares in the last quarter. 71.84% of the stock is currently owned by hedge funds and other institutional investors.

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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