Duck Creek Technologies (NASDAQ:DCT) Announces Earnings Results

Duck Creek Technologies (NASDAQ:DCT) issued its quarterly earnings results on Wednesday. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03, MarketWatch Earnings reports. The company 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% on a year-over-year basis.

Shares of Duck Creek Technologies stock traded up $0.45 during mid-day trading on Friday, reaching $42.55. 8,667 shares of the stock were exchanged, compared to its average volume of 410,400. The company has a market cap of $5.57 billion and a price-to-earnings ratio of -382.73. The firm has a 50-day simple moving average of $42.97 and a 200 day simple moving average of $42.54. Duck Creek Technologies has a fifty-two week low of $35.10 and a fifty-two week high of $48.00.

In related news, Director (Guernsey) Holdings L.P. Disco sold 720,000 shares of the stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $39.77, for a total transaction of $28,634,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

A number of brokerages have weighed in on DCT. Barclays increased their price target on shares of Duck Creek Technologies from $43.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 21st. Royal Bank of Canada increased their price objective on shares of Duck Creek Technologies from $45.00 to $51.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Zacks Investment Research upgraded shares of Duck Creek Technologies from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, November 11th. Needham & Company LLC increased their price objective on shares of Duck Creek Technologies from $47.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, October 21st. Finally, Raymond James increased their price objective on shares of Duck Creek Technologies from $44.00 to $49.00 and gave the company an “outperform” rating in a research note on Wednesday, October 21st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.50.

Duck Creek Technologies Company Profile

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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Earnings History for Duck Creek Technologies (NASDAQ:DCT)

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