Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) hit a new 52-week low on Friday . The company traded as low as $11.40 and last traded at $11.48, with a volume of 6395 shares. The stock had previously closed at $11.60.
Analyst Upgrades and Downgrades
A number of equity research analysts have weighed in on the company. Barclays lowered their target price on Duck Creek Technologies from $25.00 to $21.00 and set an “overweight” rating for the company in a report on Thursday, June 30th. Bank of America downgraded Duck Creek Technologies from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $39.00 to $16.00 in a report on Thursday, June 30th. JMP Securities downgraded Duck Creek Technologies from an “outperform” rating to a “market perform” rating in a report on Friday, July 1st. Royal Bank of Canada downgraded Duck Creek Technologies from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $18.00 to $14.00 in a report on Tuesday, July 19th. Finally, Needham & Company LLC decreased their price objective on Duck Creek Technologies from $27.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, June 30th. Six analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.89.
Duck Creek Technologies Price Performance
The company has a fifty day moving average of $12.98 and a 200-day moving average of $15.26. The firm has a market cap of $1.54 billion, a P/E ratio of -145.38, a P/E/G ratio of 5.80 and a beta of 0.44.
Duck Creek Technologies (NASDAQ:DCT – Get Rating) last posted its quarterly earnings data on Wednesday, June 29th. The company reported $0.01 earnings per share for the quarter. Duck Creek Technologies had a positive return on equity of 0.69% and a negative net margin of 3.93%. The business had revenue of $72.36 million for the quarter, compared to analysts’ expectations of $72.08 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Duck Creek Technologies, Inc. will post 0.05 EPS for the current fiscal year.
Insiders Place Their Bets
In other Duck Creek Technologies news, insider Eva F. Harris acquired 3,516 shares of the business’s stock in a transaction on Friday, July 1st. The shares were acquired at an average price of $14.25 per share, with a total value of $50,103.00. Following the completion of the transaction, the insider now owns 76,901 shares in the company, valued at $1,095,839.25. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.90% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. Truist Financial Corp lifted its position in shares of Duck Creek Technologies by 28.5% during the 1st quarter. Truist Financial Corp now owns 67,393 shares of the company’s stock valued at $1,491,000 after buying an additional 14,967 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Duck Creek Technologies by 335.3% during the 4th quarter. Squarepoint Ops LLC now owns 185.843 shares of the company’s stock worth $5,596,000 after purchasing an additional 143,148 shares in the last quarter. Investnet Asset Management Inc. lifted its holdings in Duck Creek Technologies by 25.9% during the 1st quarter. Investnet Asset Management Inc. now owns 229,853 shares of the company’s stock worth $5,084,000 after purchasing an additional 47,320 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in Duck Creek Technologies during the 4th quarter worth about $493,000. Finally, US Bancorp DE lifted its holdings in Duck Creek Technologies by 51.3% during the 1st quarter. US Bancorp DE now owns 54,035 shares of the company’s stock worth $1,195,000 after purchasing an additional 18,324 shares in the last quarter. Hedge funds and other institutional investors own 77.28% 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 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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