Truist Financial Corp Boosts Holdings in Duck Creek Technologies, Inc. (NASDAQ:DCT)

Truist Financial Corp increased its stake in shares of Duck Creek Technologies, Inc. (NASDAQ:DCT) by 12.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,602 shares of the company’s stock after buying an additional 5,926 shares during the period. Truist Financial Corp’s holdings in Duck Creek Technologies were worth $2,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in Duck Creek Technologies by 1.6% during the second quarter. Price T Rowe Associates Inc. MD now owns 6,204,410 shares of the company’s stock worth $269,954,000 after buying an additional 100,474 shares during the last quarter. Stifel Financial Corp boosted its position in Duck Creek Technologies by 4.8% during the second quarter. Stifel Financial Corp now owns 335,848 shares of the company’s stock worth $14,612,000 after purchasing an additional 15,295 shares during the period. Swiss National Bank bought a new position in Duck Creek Technologies during the second quarter worth about $3,785,000. Bank of New York Mellon Corp boosted its position in Duck Creek Technologies by 21.9% during the second quarter. Bank of New York Mellon Corp now owns 184,905 shares of the company’s stock worth $8,046,000 after purchasing an additional 33,274 shares during the period. Finally, Atlantic Trust LLC bought a new position in Duck Creek Technologies during the second quarter worth about $61,000. Institutional investors and hedge funds own 71.68% of the company’s stock.

In other news, CFO Vincent A. Chippari sold 50,000 shares of the firm’s stock in a transaction dated Monday, January 10th. The stock was sold at an average price of $28.01, for a total transaction of $1,400,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Vincent A. Chippari sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, December 7th. The shares were sold at an average price of $30.00, for a total value of $750,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 75,003 shares of company stock worth $2,150,601. 2.90% of the stock is owned by insiders.

DCT has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Duck Creek Technologies from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research report on Tuesday. Needham & Company LLC cut their target price on shares of Duck Creek Technologies from $55.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, January 7th. Barclays cut their target price on shares of Duck Creek Technologies from $41.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, January 7th. Raymond James cut their target price on shares of Duck Creek Technologies from $46.00 to $36.00 and set an “outperform” rating for the company in a research report on Friday, January 7th. Finally, Royal Bank of Canada cut their price objective on shares of Duck Creek Technologies from $47.00 to $38.00 and set an “outperform” rating for the company in a research report on Friday, January 7th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $43.20.

DCT opened at $27.36 on Friday. 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, Inc. has a 52 week low of $26.63 and a 52 week high of $59.40. The business’s fifty day simple moving average is $29.04 and its 200 day simple moving average is $38.04.

Duck Creek Technologies (NASDAQ:DCT) last released its earnings results on Thursday, January 6th. The company reported $0.04 EPS for the quarter, beating 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 positive return on equity of 0.57% and a negative net margin of 4.22%. The firm’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.02 earnings per share. As a group, equities research analysts predict that Duck Creek Technologies, Inc. will post 0.02 EPS for the current year.

Duck Creek Technologies Company Profile

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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Institutional Ownership by Quarter for Duck Creek Technologies (NASDAQ:DCT)

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