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

Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) has been given an average rating of “Buy” by the ten research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $31.70.

Several equities analysts have issued reports on the stock. DA Davidson cut their price target on shares of Duck Creek Technologies from $38.00 to $34.00 in a report on Friday, April 1st. Zacks Investment Research upgraded shares of Duck Creek Technologies from a “hold” rating to a “strong-buy” rating and set a $20.00 price objective for the company in a research note on Thursday, April 7th. Raymond James lowered their price objective on shares of 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. Barclays lowered their price objective on shares of 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. Finally, Needham & Company LLC lowered their price objective on shares of 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.

In related news, CFO Kevin R. Rhodes bought 3,000 shares of the business’s stock in a transaction dated Monday, April 25th. The stock was acquired at an average price of $16.66 per share, with a total value of $49,980.00. Following the completion of the purchase, the chief financial officer now directly owns 137,393 shares of the company’s stock, valued at $2,288,967.38. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC purchased a new stake in Duck Creek Technologies during the 1st quarter valued at about $306,000. Quantbot Technologies LP grew its stake in Duck Creek Technologies by 309.4% during the 1st quarter. Quantbot Technologies LP now owns 10,989 shares of the company’s stock valued at $243,000 after acquiring an additional 8,305 shares in the last quarter. Royal Bank of Canada grew its stake in Duck Creek Technologies by 10.2% during the 1st quarter. Royal Bank of Canada now owns 250,426 shares of the company’s stock valued at $5,540,000 after acquiring an additional 23,177 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Duck Creek Technologies in the 1st quarter valued at about $489,000. Finally, Eaton Vance Management acquired a new position in Duck Creek Technologies in the 1st quarter valued at about $490,000. 71.84% of the stock is owned by institutional investors.

NASDAQ DCT traded up $0.37 on Friday, hitting $17.87. The stock had a trading volume of 2,758 shares, compared to its average volume of 804,407. The business’s fifty day moving average price is $18.29 and its 200 day moving average price is $23.58. Duck Creek Technologies has a 52-week low of $14.90 and a 52-week high of $50.90. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of -437.50, a price-to-earnings-growth ratio of 8.95 and a beta of 0.26.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last released its quarterly earnings results on Thursday, March 31st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.04. Duck Creek Technologies had a negative net margin of 2.11% and a positive return on equity of 1.14%. The business had revenue of $76.42 million for the quarter, compared to analyst estimates of $72.57 million. During the same period in the previous year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, analysts predict that Duck Creek Technologies will post 0.04 EPS for the current fiscal year.

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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Analyst Recommendations for Duck Creek Technologies (NASDAQ:DCT)

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