The share price of Duck Creek Technologies Inc. (NASDAQ:DCT) rose to $19.04 per share on Wednesday from $19.00. While Duck Creek Technologies Inc. has overperformed by 0.21%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DCT fell by -34.41%, with highs and lows ranging from $30.32 to $10.04, whereas the simple moving average jumped by 33.37% in the last 200 days.
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On January 04, 2023, BofA Securities Downgraded Duck Creek Technologies Inc. (NASDAQ: DCT) to Underperform. A report published by JP Morgan on December 01, 2022, Initiated its previous ‘Neutral’ rating for DCT. RBC Capital Mkts also Downgraded DCT shares as ‘Sector Perform’, setting a target price of $14 on the company’s shares in a report dated July 19, 2022. BofA Securities July 01, 2022d its ‘Buy’ rating to ‘Neutral’ for DCT, as published in its report on July 01, 2022. Wolfe Research’s report from April 04, 2022 suggests a price prediction of $19 for DCT shares, giving the stock a ‘Peer Perform’ rating. Needham also rated the stock as ‘Buy’.
Analysis of Duck Creek Technologies Inc. (DCT)
Further, the quarter-over-quarter increase in sales is 13.80%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Duck Creek Technologies Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -1.60% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and DCT is recording an average volume of 1.08M. On a monthly basis, the volatility of the stock is set at 4.71%, whereas on a weekly basis, it is put at 4.43%, with a gain of 64.85% over the past seven days. Furthermore, long-term investors anticipate a median target price of $14.78, showing decline from the present price of $19.04, which can serve as yet another indication of whether DCT is worth investing in or should be passed over.
How Do You Analyze Duck Creek Technologies Inc. Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 75.40% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DCT shares?
The recent increase in stakes in DCT appears to be a result of several institutional investors and hedge funds increasing their positions. Kayne Anderson Rudnick Investment’s position in DCT has increased by 4.81% in the first quarter. The company now owns 17,546,504 shares of the stock, with a value of $196.35 million, following the purchase of 805,053 additional shares during the last quarter. Echo Street Capital Management LL made another increased to its shares in DCT during the first quarter, upping its stake by 13.61%. During the last quarter, the company picked up 1,011,087 additional shares for a total stake of worth $94.42 million, bringing number of shares owned by the company to 8,437,510.
During the first quarter, The Vanguard Group, Inc. added a 219,657 position in DCT. Brown Capital Management LLC purchased an additional 78769.0 shares in the last quarter, increasing its holdings by 1.11%, now holding 7.15 million shares worth $79.95 million. At the end of the first quarter, BlackRock Fund Advisors increased its DCT holdings by 0.22% and now holds 4.55 million DCT shares valued at $50.87 million with the added 9946.0 shares during the period. DCT shares are owned by institutional investors to the tune of 75.40% at present.
