Barton Investment Management lifted its position in shares of Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,052,513 shares of the company’s stock after buying an additional 20,510 shares during the quarter. Duck Creek Technologies makes up 3.2% of Barton Investment Management’s investment portfolio, making the stock its 11th largest position. Barton Investment Management owned about 0.79% of Duck Creek Technologies worth $15,630,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Psagot Value Holdings Ltd. Israel purchased a new stake in Duck Creek Technologies in the fourth quarter valued at approximately $84,000. Prospera Financial Services Inc purchased a new stake in Duck Creek Technologies in the first quarter valued at approximately $38,000. MetLife Investment Management LLC acquired a new stake in shares of Duck Creek Technologies in the first quarter worth $51,000. Spire Wealth Management increased its position in shares of Duck Creek Technologies by 39.5% in the first quarter. Spire Wealth Management now owns 3,144 shares of the company’s stock worth $70,000 after acquiring an additional 891 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in shares of Duck Creek Technologies by 19.6% in the first quarter. Captrust Financial Advisors now owns 6,909 shares of the company’s stock worth $153,000 after acquiring an additional 1,133 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Needham & Company LLC dropped their price objective on shares of Duck Creek Technologies from $27.00 to $20.00 and set a “buy” rating for the company in a research report on Thursday, June 30th. JMP Securities lowered shares of Duck Creek Technologies from an “outperform” rating to a “market perform” rating in a research report on Friday, July 1st. Bank of America downgraded shares of Duck Creek Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $39.00 to $16.00 in a research note on Thursday, June 30th. Barclays decreased their target price on shares of Duck Creek Technologies from $25.00 to $21.00 and set an “overweight” rating for the company in a research note on Thursday, June 30th. Finally, Raymond James decreased their target price on shares of Duck Creek Technologies from $24.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, June 30th. Six research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $23.89.
Duck Creek Technologies Trading Down 1.4 %
Duck Creek Technologies (NASDAQ:DCT – Get Rating) last posted its quarterly earnings data on Wednesday, June 29th. The company reported $0.01 EPS for the quarter. Duck Creek Technologies had a negative net margin of 3.93% and a positive return on equity of 0.69%. The firm had revenue of $72.36 million for the quarter, compared to the consensus estimate of $72.08 million. During the same period in the prior year, the firm posted $0.02 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Duck Creek Technologies, Inc. will post 0.05 earnings per share for the current year.
Insider Buying and Selling at Duck Creek Technologies
In related news, insider Eva F. Harris bought 3,516 shares of the stock in a transaction on Friday, July 1st. The shares were purchased at an average price of $14.25 per share, with a total value of $50,103.00. Following the purchase, the insider now owns 76,901 shares in the company, valued at $1,095,839.25. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is owned by corporate insiders.
About Duck Creek Technologies
Duck Creek Technologies, Inc provides software-as-a-service core systems to the property and casualty insurance industry in the United States and internationally. The company provides Duck Creek Policy, a solution that enables insurers to develop and launch new insurance products and manage various aspects of policy administration ranging from product definition to quoting, binding, and servicing; 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 entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting, and closure.
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