Duck Creek Technologies, Inc. (NASDAQ:DCT – Get Rating) was the recipient of some unusual options trading on Wednesday. Traders bought 2,376 call options on the stock. This is an increase of 163% compared to the typical volume of 904 call options.
Wall Street Analyst Weigh In
A number of equity analysts recently commented on the company. Needham & Company LLC cut Duck Creek Technologies from a “buy” rating to a “hold” rating in a report on Monday, January 9th. Raymond James lowered Duck Creek Technologies from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 17th. DA Davidson lowered their target price on Duck Creek Technologies from $30.00 to $27.00 in a research note on Thursday, October 13th. Royal Bank of Canada reduced their target price on Duck Creek Technologies from $14.00 to $12.00 and set a “sector performing” rating on the stock in a report on Thursday, October 13th. Finally, William Blair cut Duck Creek Technologies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, January 10th. One analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Duck Creek Technologies currently has a consensus rating of “Hold” and a consensus target price of $17.67.
Hedge Funds Weigh In On Duck Creek Technologies
Several hedge funds have recently modified their holdings of DCT. AlphaCrest Capital Management LLC grew its holdings in shares of Duck Creek Technologies by 199.1% in the second quarter. AlphaCrest Capital Management LLC now owns 122,469 shares of the company’s stock worth $1,819,000 after purchasing an additional 81,522 shares during the last quarter. The Arizona State Retirement System raised its position in shares of Duck Creek Technologies by 100.6% in the 2nd quarter. Arizona State Retirement System now owns 21,479 shares of the company’s stock valued at $319,000 after purchasing an additional 10,771 shares during the last quarter. Polen Capital Management LLC increased its holdings in Duck Creek Technologies by 35.1% in the 3rd quarter. Polen Capital Management LLC now owns 591,723 shares of the company’s stock worth $7,012,000 after buying an additional 153,725 shares during the period. SG Americas Securities LLC increased its holdings in Duck Creek Technologies by 207.4% in the 3rd quarter. SG Americas Securities LLC now owns 59,042 shares of the company’s stock worth $700,000 after buying an additional 39,833 shares during the period. Finally, Commerce Bank acquired a new stake in shares of Duck Creek Technologies during the 2nd quarter worth approximately $233,000. Hedge funds and other institutional investors own 74.55% of the company’s stock.
Duck Creek Technologies Stock Performance
NASDAQ:DCT opened at $19.00 on Thursday. The firm has a 50-day simple moving average of $13.30 and a two-hundred day simple moving average of $12.53. Duck Creek Technologies has a fifty-two week low of $10.04 and a fifty-two week high of $26.31. The firm has a market cap of $2.52 billion, a P/E ratio of -173.00, a P/E/G ratio of 7.16 and a beta of 0.22.
About Duck Creek Technologies
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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 support the entire claims lifecycle from first notice of loss through investigation, payments, negotiations, reporting, and closure.
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