Duck Creek Technologies (NASDAQ:DCT) had its price objective hoisted by DA Davidson from $50.00 to $52.00 in a research report released on Monday morning, The Fly reports. DA Davidson currently has a buy rating on the stock.
Several other research firms have also recently issued reports on DCT. Needham & Company LLC restated a buy rating and set a $55.00 price objective on shares of Duck Creek Technologies in a report on Friday, July 9th. Barclays reduced their target price on Duck Creek Technologies from $49.00 to $43.00 and set an equal weight rating on the stock in a report on Friday, July 9th. JPMorgan Chase & Co. upgraded Duck Creek Technologies from a neutral rating to an overweight rating and set a $62.00 target price on the stock in a report on Tuesday, July 13th. Stifel Nicolaus lifted their target price on Duck Creek Technologies from $55.00 to $60.00 and gave the company a buy rating in a report on Tuesday, September 7th. Finally, Zacks Investment Research cut Duck Creek Technologies from a buy rating to a hold rating in a report on Wednesday, September 8th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Duck Creek Technologies presently has a consensus rating of Buy and a consensus price target of $52.20.
DCT stock opened at $45.59 on Monday. Duck Creek Technologies has a 52-week low of $33.91 and a 52-week high of $59.40. The stock’s fifty day simple moving average is $45.86 and its 200-day simple moving average is $43.07. The stock has a market capitalization of $6.00 billion, a price-to-earnings ratio of -175.35 and a beta of -0.72.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Koshinski Asset Management Inc. acquired a new position in shares of Duck Creek Technologies during the third quarter worth approximately $37,000. IFP Advisors Inc boosted its position in shares of Duck Creek Technologies by 57.4% during the third quarter. IFP Advisors Inc now owns 3,840 shares of the company’s stock worth $169,000 after buying an additional 1,400 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Duck Creek Technologies by 71.6% during the second quarter. Parametric Portfolio Associates LLC now owns 18,457 shares of the company’s stock worth $803,000 after buying an additional 7,699 shares during the period. Morgan Stanley boosted its position in shares of Duck Creek Technologies by 38.2% during the second quarter. Morgan Stanley now owns 258,562 shares of the company’s stock worth $11,250,000 after buying an additional 71,530 shares during the period. Finally, Invesco Ltd. boosted its position in shares of Duck Creek Technologies by 2,048.1% during the second quarter. Invesco Ltd. now owns 542,340 shares of the company’s stock worth $23,597,000 after buying an additional 517,092 shares during the period. Institutional investors and hedge funds own 72.10% 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 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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