Duck Creek Technologies (NASDAQ:DCT) Releases FY 2021 Earnings Guidance


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Duck Creek Technologies (NASDAQ:DCT) issued an update on its FY 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of – for the period. The company issued revenue guidance of $250 million-$254.50 million, compared to the consensus revenue estimate of $249.39 million.

Shares of DCT stock traded up $0.34 during trading hours on Tuesday, reaching $40.42. The company’s stock had a trading volume of 513,171 shares, compared to its average volume of 839,277. The stock has a market capitalization of $5.32 billion and a P/E ratio of -367.45. Duck Creek Technologies has a one year low of $35.10 and a one year high of $59.40. The firm’s fifty day simple moving average is $43.38 and its 200 day simple moving average is $44.88.

Duck Creek Technologies (NASDAQ:DCT) last released its earnings results on Sunday, April 4th. The company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.04. The firm had revenue of $62.65 million during the quarter, compared to analysts’ expectations of $59.23 million. The business’s revenue was up 18.6% on a year-over-year basis. Analysts expect that Duck Creek Technologies will post -0.11 earnings per share for the current year.

A number of research analysts have recently commented on DCT shares. Wolfe Research started coverage on Duck Creek Technologies in a research note on Wednesday, April 28th. They issued an outperform rating and a $50.00 target price for the company. JMP Securities lifted their price objective on Duck Creek Technologies from $49.00 to $51.00 and gave the company an outperform rating in a research note on Tuesday, April 6th. DA Davidson lifted their price objective on Duck Creek Technologies from $51.00 to $54.00 and gave the company a buy rating in a research note on Tuesday, April 6th. Zacks Investment Research upgraded Duck Creek Technologies from a hold rating to a buy rating and set a $48.00 price objective for the company in a research note on Tuesday, April 20th. Finally, Royal Bank of Canada reiterated a buy rating on shares of Duck Creek Technologies in a research note on Thursday, January 14th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $48.27.

In other news, CFO Vincent A. Chippari sold 75,000 shares of the business’s stock in a transaction on Friday, February 19th. The shares were sold at an average price of $54.78, for a total transaction of $4,108,500.00. Following the completion of the sale, the chief financial officer now owns 675,304 shares of the company’s stock, valued at approximately $36,993,153.12. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Vincent A. Chippari sold 25,000 shares of the company’s stock in a transaction on Thursday, April 1st. The stock was sold at an average price of $45.13, for a total value of $1,128,250.00. Following the completion of the sale, the chief financial officer now owns 551,205 shares of the company’s stock, valued at $24,875,881.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 562,433 shares of company stock valued at $28,854,250. Corporate insiders own 1.50% of the company’s stock.

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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Earnings History and Estimates for Duck Creek Technologies (NASDAQ:DCT)

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