Duck Creek Technologies (NASDAQ:DCT) Given “Buy” Rating at Royal Bank of Canada

Duck Creek Technologies (NASDAQ:DCT)‘s stock had its “buy” rating reissued by research analysts at Royal Bank of Canada in a report issued on Thursday, AnalystRatings.com reports.

Other equities analysts have also issued reports about the stock. Raymond James raised their target price on shares of Duck Creek Technologies from $44.00 to $49.00 and gave the stock an “outperform” rating in a research report 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 on the stock in a research report on Wednesday, November 11th. Needham & Company LLC increased 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. Finally, Barclays raised their price objective on Duck Creek Technologies from $43.00 to $48.00 and gave the company an “equal weight” 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. Duck Creek Technologies currently has an average rating of “Buy” and an average target price of $46.50.

Shares of Duck Creek Technologies stock opened at $47.39 on Thursday. The company has a fifty day simple moving average of $43.52 and a 200-day simple moving average of $42.52. Duck Creek Technologies has a 12-month low of $35.10 and a 12-month high of $48.59. The stock has a market cap of $6.20 billion and a price-to-earnings ratio of -430.82.

Duck Creek Technologies (NASDAQ:DCT) last posted its earnings results on Wednesday, January 6th. The company reported $0.02 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $58.90 million for the quarter, compared to analyst estimates of $55.80 million. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. Analysts expect that Duck Creek Technologies will post -0.12 earnings per share for the current year.

In other news, Director (Guernsey) Holdings L.P. Disco sold 720,000 shares of Duck Creek Technologies stock in a transaction dated Tuesday, November 24th. The stock was sold at an average price of $39.77, for a total transaction of $28,634,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in Duck Creek Technologies in the third quarter valued at $190,000. Morgan Stanley acquired a new position in shares of Duck Creek Technologies in the third quarter valued at approximately $206,000. TD Asset Management Inc. acquired a new position in shares of Duck Creek Technologies in the third quarter valued at approximately $225,000. Treasurer of the State of North Carolina acquired a new stake in Duck Creek Technologies during the third quarter worth approximately $239,000. Finally, Jane Street Group LLC acquired a new stake in shares of Duck Creek Technologies in the 3rd quarter valued at $328,000. 1.68% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Duck Creek Technologies (NASDAQ:DCT)

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