AlphaCrest Capital Management LLC Purchases 81,522 Shares of Duck Creek Technologies, Inc. (NASDAQ:DCT)

AlphaCrest Capital Management LLC grew its position in Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) by 199.1% during the second quarter, HoldingsChannel.com reports. The fund owned 122,469 shares of the company’s stock after acquiring an additional 81,522 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in Duck Creek Technologies were worth $1,819,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DCT. Echo Street Capital Management LLC lifted its stake in shares of Duck Creek Technologies by 33.5% in the 1st quarter. Echo Street Capital Management LLC now owns 5,284,208 shares of the company’s stock valued at $116,887,000 after purchasing an additional 1,325,742 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Duck Creek Technologies by 11.9% in the first quarter. JPMorgan Chase & Co. now owns 4,383,011 shares of the company’s stock worth $96,952,000 after buying an additional 465,629 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Duck Creek Technologies by 57.7% during the first quarter. New York State Common Retirement Fund now owns 780,666 shares of the company’s stock worth $17,268,000 after buying an additional 285,710 shares during the period. Renaissance Technologies LLC increased its position in Duck Creek Technologies by 2,206.9% during the first quarter. Renaissance Technologies LLC now owns 267,600 shares of the company’s stock valued at $5,919,000 after acquiring an additional 256,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Duck Creek Technologies by 3.5% in the first quarter. Vanguard Group Inc. now owns 6,670,858 shares of the company’s stock valued at $147,559,000 after acquiring an additional 225,912 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.

Duck Creek Technologies Price Performance

DCT opened at $11.10 on Thursday. The firm has a 50 day moving average of $11.56 and a two-hundred day moving average of $12.81. Duck Creek Technologies, Inc. has a 12-month low of $10.04 and a 12-month high of $32.49.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last issued its quarterly earnings data on Wednesday, October 12th. The company reported $0.01 earnings per share for the quarter. Duck Creek Technologies had a negative net margin of 2.75% and a positive return on equity of 1.03%. The business had revenue of $80.70 million during the quarter, compared to the consensus estimate of $73.08 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. The company’s revenue was up 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that Duck Creek Technologies, Inc. will post 0.06 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on DCT. StockNews.com started coverage on shares of Duck Creek Technologies in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Royal Bank of Canada reduced their price target on shares of Duck Creek Technologies from $14.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 13th. Raymond James decreased their target price on Duck Creek Technologies from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, October 13th. Barclays decreased their price objective on Duck Creek Technologies from $21.00 to $14.00 and set an “overweight” rating for the company in a report on Wednesday, October 12th. Finally, DA Davidson dropped their target price on shares of Duck Creek Technologies from $30.00 to $27.00 in a report on Thursday, October 13th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.25.

Duck Creek Technologies Profile

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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 supports 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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