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

AlphaCrest Capital Management LLC raised its holdings in shares of Duck Creek Technologies, Inc. (NASDAQ:DCTGet Rating) by 199.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 122,469 shares of the company’s stock after acquiring an additional 81,522 shares during the period. AlphaCrest Capital Management LLC owned approximately 0.09% of Duck Creek Technologies worth $1,819,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System grew its holdings 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 acquiring an additional 10,771 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Duck Creek Technologies by 25.9% during the first quarter. Envestnet Asset Management Inc. now owns 229,853 shares of the company’s stock worth $5,084,000 after acquiring an additional 47,320 shares during the period. US Bancorp DE increased its stake in Duck Creek Technologies by 51.3% during the 1st quarter. US Bancorp DE now owns 54,035 shares of the company’s stock worth $1,195,000 after acquiring an additional 18,324 shares during the period. Equitable Trust Co. lifted its position in Duck Creek Technologies by 214.7% during the second quarter. Equitable Trust Co. now owns 43,263 shares of the company’s stock worth $642,000 after purchasing an additional 29,516 shares during the period. Finally, Precision Wealth Strategies LLC grew its stake in Duck Creek Technologies by 25.0% during the second quarter. Precision Wealth Strategies LLC now owns 31,118 shares of the company’s stock worth $444,000 after buying an additional 6,221 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

Duck Creek Technologies Trading Up 1.1 %

Shares of NASDAQ DCT opened at $11.10 on Thursday. Duck Creek Technologies, Inc. has a one year low of $10.04 and a one year high of $32.49. The firm’s 50 day simple moving average is $11.56 and its two-hundred day simple moving average is $12.81.

Duck Creek Technologies (NASDAQ:DCTGet Rating) last released its earnings results on Wednesday, October 12th. The company reported $0.01 EPS for the quarter. The company had revenue of $80.70 million for the quarter, compared to analyst estimates of $73.08 million. Duck Creek Technologies had a negative net margin of 2.75% and a positive return on equity of 1.03%. The firm’s quarterly revenue was up 13.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. On average, equities analysts anticipate that Duck Creek Technologies, Inc. will post 0.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DCT has been the topic of several research analyst reports. Needham & Company LLC reduced their price objective on Duck Creek Technologies from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Thursday, October 13th. Barclays cut their price target on Duck Creek Technologies from $21.00 to $14.00 and set an “overweight” rating on the stock in a report on Wednesday, October 12th. Royal Bank of Canada decreased their target price on Duck Creek Technologies from $14.00 to $12.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. StockNews.com assumed coverage on shares of Duck Creek Technologies in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Raymond James cut their target price on Duck Creek Technologies from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, October 13th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.25.

Duck Creek Technologies Company 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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