Duck Creek Technologies, Inc. (NASDAQ:DCT) CFO Sells $1,400,500.00 in Stock

Duck Creek Technologies, Inc. (NASDAQ:DCT) CFO Vincent A. Chippari sold 50,000 shares of the company’s stock in a transaction on Monday, January 10th. The shares were sold at an average price of $28.01, for a total transaction of $1,400,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

DCT stock opened at $27.36 on Friday. Duck Creek Technologies, Inc. has a fifty-two week low of $26.63 and a fifty-two week high of $59.40. The firm’s 50-day simple moving average is $29.04 and its 200 day simple moving average is $38.04. The stock has a market cap of $3.67 billion, a PE ratio of -342.00 and a beta of -1.03.

Duck Creek Technologies (NASDAQ:DCT) last released its quarterly earnings data on Thursday, January 6th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.03. The business had revenue of $73.42 million for the quarter, compared to analysts’ expectations of $68.91 million. Duck Creek Technologies had a negative net margin of 4.22% and a positive return on equity of 0.57%. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.02 EPS. On average, analysts expect that Duck Creek Technologies, Inc. will post 0.02 earnings per share for the current fiscal year.

A number of analysts have weighed in on DCT shares. JPMorgan Chase & Co. cut shares of Duck Creek Technologies from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $62.00 to $50.00 in a report on Friday, October 15th. Zacks Investment Research raised shares of Duck Creek Technologies from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a report on Tuesday. JMP Securities dropped their target price on shares of Duck Creek Technologies from $51.00 to $35.00 and set a “market outperform” rating on the stock in a report on Friday, January 7th. Raymond James dropped their target price on shares of Duck Creek Technologies from $46.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, January 7th. Finally, Royal Bank of Canada dropped their target price on shares of Duck Creek Technologies from $47.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, January 7th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Duck Creek Technologies has an average rating of “Buy” and an average target price of $43.20.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Global Investments bought a new position in Duck Creek Technologies in the 3rd quarter valued at about $1,270,000. Price T Rowe Associates Inc. MD grew its position in Duck Creek Technologies by 1.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,204,410 shares of the company’s stock valued at $269,954,000 after buying an additional 100,474 shares in the last quarter. Stifel Financial Corp grew its position in Duck Creek Technologies by 4.8% in the 2nd quarter. Stifel Financial Corp now owns 335,848 shares of the company’s stock valued at $14,612,000 after buying an additional 15,295 shares in the last quarter. Swiss National Bank bought a new position in Duck Creek Technologies in the 2nd quarter valued at about $3,785,000. Finally, Bank of New York Mellon Corp grew its position in Duck Creek Technologies by 21.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,905 shares of the company’s stock valued at $8,046,000 after buying an additional 33,274 shares in the last quarter. Hedge funds and other institutional investors own 71.68% 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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