Duck Creek Technologies (NASDAQ:DCT) posted its earnings results on Wednesday. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03, MarketWatch Earnings reports. The business had revenue of $58.90 million during the quarter, compared to the consensus estimate of $55.80 million. Duck Creek Technologies’s revenue was up 26.4% compared to the same quarter last year.
Shares of DCT stock traded up $0.89 during trading hours on Friday, hitting $42.99. 14,293 shares of the company’s stock traded hands, compared to its average volume of 410,400. The stock’s fifty day simple moving average is $42.97 and its two-hundred day simple moving average is $42.54. Duck Creek Technologies has a 12-month low of $35.10 and a 12-month high of $48.00. The stock has a market cap of $5.62 billion and a price-to-earnings ratio of -382.73.
Several research firms recently issued reports on DCT. Royal Bank of Canada raised their target price on Duck Creek Technologies from $45.00 to $51.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Raymond James raised their target price on Duck Creek Technologies from $44.00 to $49.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 21st. Needham & Company LLC raised their target price on Duck Creek Technologies from $47.00 to $53.00 and gave the stock a “buy” rating in a research note on Wednesday, October 21st. Zacks Investment Research raised Duck Creek Technologies from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Wednesday, November 11th. Finally, Barclays lifted their price objective on Duck Creek Technologies from $43.00 to $48.00 and gave the company an “equal weight” rating in a research 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 stock. Duck Creek Technologies has a consensus rating of “Buy” and an average price target of $46.50.
In other news, Director (Guernsey) Holdings L.P. Disco sold 720,000 shares of Duck Creek Technologies stock in a transaction that occurred on Tuesday, November 24th. The shares were sold at an average price of $39.77, for a total transaction of $28,634,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by company insiders.
About Duck Creek Technologies
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.
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