Duck Creek Technologies, Inc. (NASDAQ:DCT) – DA Davidson issued their Q3 2021 earnings estimates for shares of Duck Creek Technologies in a report released on Wednesday, April 7th. DA Davidson analyst R. Jaluria expects that the company will earn ($0.03) per share for the quarter. DA Davidson currently has a “Buy” rating and a $54.00 target price on the stock.

Duck Creek Technologies (NASDAQ:DCT) last issued its earnings results on Sunday, April 4th. The company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.04. The firm had revenue of $62.65 million for the quarter, compared to the consensus estimate of $59.23 million. The firm’s revenue was up 18.6% on a year-over-year basis.

Several other research firms have also commented on DCT. Royal Bank of Canada reissued a “buy” rating on shares of Duck Creek Technologies in a research report on Thursday, January 14th. JMP Securities boosted their price target on Duck Creek Technologies from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three equities research 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 an average target price of $48.30.

DCT opened at $41.66 on Thursday. The firm has a market cap of $5.56 billion and a price-to-earnings ratio of -378.73. Duck Creek Technologies has a 12 month low of $35.10 and a 12 month high of $59.40. The stock has a fifty day moving average price of $46.58 and a 200-day moving average price of $44.57.

In related news, Director (Guernsey) Holdings L.P. Disco sold 6,156,000 shares of the company’s stock in a transaction dated Tuesday, February 2nd. The stock was sold at an average price of $44.39, for a total transaction of $273,264,840.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CMO Scott Fitzgerald sold 5,000 shares of the company’s stock in a transaction dated Friday, March 19th. The shares were sold at an average price of $42.56, for a total value of $212,800.00. Following the transaction, the chief marketing officer now directly owns 236,948 shares in the company, valued at $10,084,506.88. The disclosure for this sale can be found here. Insiders have sold a total of 6,627,318 shares of company stock worth $298,183,991 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Captrust Financial Advisors purchased a new stake in Duck Creek Technologies during the 4th quarter valued at about $34,000. Panagora Asset Management Inc. grew its stake in Duck Creek Technologies by 42.9% during the 4th quarter. Panagora Asset Management Inc. now owns 1,429 shares of the company’s stock valued at $62,000 after purchasing an additional 429 shares during the last quarter. Citigroup Inc. grew its stake in Duck Creek Technologies by 134.4% during the 4th quarter. Citigroup Inc. now owns 1,760 shares of the company’s stock valued at $76,000 after purchasing an additional 1,009 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Duck Creek Technologies during the 3rd quarter valued at about $190,000. Finally, Morgan Stanley purchased a new stake in Duck Creek Technologies during the 3rd quarter valued at about $206,000. 29.80% of the stock is currently owned by 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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