Duck Creek Technologies (NASDAQ: DCT) Reports Quarterly Results, Beats $ 0.03 Per Share Estimate
Duck Creek Technologies (NASDAQ: DCT) released its quarterly earnings data on Thursday. The company reported earnings per share of $ 0.04 for the quarter, beating the consensus estimate of $ 0.01 by $ 0.03, Briefing.com reports. The company posted revenue of $ 73.42 million for the quarter, compared to analysts’ expectations of $ 68.91 million. During the same period of the previous year, the company achieved earnings per share of $ 0.02. The company’s revenue for the quarter increased 24.6% year-over-year.
DCT shares opened at $ 27.78 on Friday. Duck Creek Technologies has a twelve month low of $ 26.86 and a twelve month high of $ 59.40. The company has a market cap of $ 3.73 billion, a P / E ratio of -213.69 and a beta of -1.04. The company’s fifty-day simple moving average is $ 29.38 and its 200-day simple moving average is $ 38.62.
A number of analysts have commented on the headline. DA Davidson raised its target price on Duck Creek Technologies shares from $ 50.00 to $ 52.00 and gave the company a “buy” rating in a report released on Monday, October 11. Barclays Upgraded Duck Creek Technologies Shares From ‘On Equity’ To ‘Overweight’ Rating And Lowered Its Share Price Target From $ 48.80 To $ 41.00 In Research Report Monday, November 22. JPMorgan Chase & Co. downgraded Duck Creek Technologies shares from an “overweight” to a “neutral” rating and lowered its target price from $ 62.00 to $ 50.00 in a research report released on Friday October 15. Needham & Company LLC reaffirmed a “buy” note on Duck Creek Technologies shares in a research report on Friday, October 15. Finally, the Royal Bank of Canada lowered its target price on Duck Creek Technologies shares from $ 51.00 to $ 47.00 and established an “outperformance” rating for the company in a research report released on Friday the 15th. October. Two research analysts rated the stock with a conservation rating and eight issued a buy rating for the company’s stock. According to MarketBeat.com, Duck Creek Technologies has a consensus rating of “Buy” and an average target price of $ 49.10.
In addition, CFO Vincent A. Chippari sold 25,000 shares in a transaction on Tuesday, December 7. The shares were sold at an average price of $ 30.00, for a total value of $ 750,000.00. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.90% of the company’s shares.
A number of hedge funds have recently bought and sold shares of DCT. LPL Financial LLC purchased a new position in Duck Creek Technologies during the 3rd quarter valued at approximately $ 556,000. Dimensional Fund Advisors LP increased its holdings in Duck Creek Technologies by 92.0% during the third quarter. Dimensional Fund Advisors LP now owns 17,982 shares of the company valued at $ 796,000 after acquiring an additional 8,616 shares in the last quarter. Bank of America Corp DE increased its stake in Duck Creek Technologies by 138.5% during the 2nd quarter. Bank of America Corp DE now owns 20,936 shares of the company valued at $ 912,000 after acquiring an additional 12,158 shares in the last quarter. UBS Group AG increased its stake in Duck Creek Technologies by 11,011.2% during the third quarter. UBS Group AG now owns 61,334 shares of the company valued at $ 2,713,000 after acquiring an additional 60,782 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Duck Creek Technologies by 36.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 251,875 shares of the company valued at $ 11,144,000 after acquiring an additional 66,970 shares during the last quarter. 72.12% of the shares are currently held by institutional investors.
About Duck Creek Technologies
Duck Creek Technologies, Inc. provides basic software-as-a-service systems to the P&C insurance industry in North America. It offers Duck Creek Policy, a full lifecycle solution for product development and policy listing, bonding and servicing across a variety of channels, from agents and brokers to end users; Duck Creek Billing which provides payment and billing capabilities, such as billing and collection, commission processing, outflow management, and general ledger capabilities for lines of insurance and invoice types; and Duck Creek Claims which supports the entire claims lifecycle, from first notice of loss to investigation, payments, negotiations, reporting and closing.
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