Duck Creek Technologies, Inc. (NASDAQ:DCT) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 794 call options on the company. This represents an increase of approximately 1,370% compared to the typical volume of 54 call options.
In other Duck Creek Technologies news, CMO Scott Fitzgerald sold 5,000 shares of the stock in a transaction on Friday, March 19th. The stock was sold at an average price of $42.56, for a total transaction of $212,800.00. Following the sale, the chief marketing officer now owns 236,948 shares in the company, valued at $10,084,506.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director (Guernsey) Holdings L.P. Disco sold 6,156,000 shares of the firm’s stock in a transaction on Tuesday, February 2nd. The stock was sold at an average price of $44.39, for a total value of $273,264,840.00. The disclosure for this sale can be found here. Insiders have sold 6,627,318 shares of company stock valued at $298,183,991 in the last quarter. Company insiders own 1.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in DCT. Captrust Financial Advisors bought a new position in shares of Duck Creek Technologies during the fourth quarter valued at about $34,000. Panagora Asset Management Inc. grew its position in shares of Duck Creek Technologies by 42.9% in the 4th quarter. Panagora Asset Management Inc. now owns 1,429 shares of the company’s stock worth $62,000 after buying an additional 429 shares during the last quarter. Citigroup Inc. increased its stake in shares of Duck Creek Technologies by 134.4% during the fourth quarter. Citigroup Inc. now owns 1,760 shares of the company’s stock valued at $76,000 after buying an additional 1,009 shares during the period. Public Employees Retirement System of Ohio bought a new position in shares of Duck Creek Technologies during the third quarter valued at approximately $190,000. Finally, Morgan Stanley bought a new position in shares of Duck Creek Technologies during the third quarter valued at approximately $206,000. 29.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently weighed in on DCT shares. JMP Securities upped their price target on Duck Creek Technologies from $49.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday. DA Davidson raised their price target on shares of Duck Creek Technologies from $51.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Duck Creek Technologies in a report on Thursday, January 14th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $48.30.
NASDAQ DCT opened at $41.66 on Thursday. The firm has a market cap of $5.56 billion and a PE ratio of -378.73. Duck Creek Technologies has a 1-year low of $35.10 and a 1-year high of $59.40. The stock has a 50-day moving average of $46.58 and a 200-day moving average of $44.57.
Duck Creek Technologies (NASDAQ:DCT) last announced its quarterly earnings results on Sunday, April 4th. The company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.04. The company had revenue of $62.65 million during the quarter, compared to analysts’ expectations of $59.23 million. The firm’s quarterly revenue was up 18.6% on a year-over-year basis. On average, sell-side analysts anticipate that Duck Creek Technologies will post -0.11 earnings per share for the current year.
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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