Duck Creek Technologies Inc. [NASDAQ: DCT] slipped around -2.6 points on Wednesday, while shares priced at $40.00 at the close of the session, down -6.10%. The company report on November 11, 2020 that Duck Creek Technologies Announces Pricing of Secondary Offering of Common Stock.
Duck Creek Technologies, Inc. (Nasdaq: DCT) (“Duck Creek”), a provider of SaaS-delivered enterprise software to the property & casualty (“P&C”) insurance industry, announced today the pricing of an underwritten public offering by certain of its stockholders of 8,000,000 shares of Duck Creek’s common stock at a public offering price of $41.00 per share. The offering is expected to close on November 13, 2020, subject to customary closing conditions. The selling stockholders also granted the underwriters a 30-day option to purchase up to 1,200,000 additional shares of Duck Creek’s common stock at the public offering price, less underwriting discounts and commissions.
Duck Creek is not selling any shares in the offering and will not receive any of the proceeds from the sale.
Compared to the average trading volume of 605.34K shares, DCT reached a trading volume of 4170232 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Duck Creek Technologies Inc. [DCT]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DCT shares is $50.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DCT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Needham have made an estimate for Duck Creek Technologies Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 21, 2020. The new note on the price target was released on September 08, 2020, representing the official price target for Duck Creek Technologies Inc. stock. Previously, the target price had yet another raise to $50, while Stifel analysts kept a Buy rating on DCT stock.
The Average True Range (ATR) for Duck Creek Technologies Inc. is set at 2.81, with the Price to Sales ratio for DCT stock in the period of the last 12 months amounting to 24.50. The Price to Book ratio for the last quarter was 7.13, with the Price to Cash per share for the same quarter was set at 0.15.
How has DCT stock performed recently?
Duck Creek Technologies Inc. [DCT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.33.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DCT stock in for the last two-week period is set at 37.51, with the RSI for the last a single of trading hit 31.00, and the three-weeks RSI is set at 42.37 for Duck Creek Technologies Inc. [DCT]. The present Moving Average for the last 50 days of trading for this stock 42.33, while it was recorded at 44.28 for the last single week of trading.
Duck Creek Technologies Inc. [DCT]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Duck Creek Technologies Inc. [DCT] shares currently have an operating margin of -13.47 and a Gross Margin at +48.09. Duck Creek Technologies Inc.’s Net Margin is presently recorded at -14.14.
Return on Total Capital for DCT is now -4.95, given the latest momentum, and Return on Invested Capital for the company is -5.21. Return on Equity for this stock declined to -5.33, with Return on Assets sitting at -4.51. When it comes to the capital structure of this company, Duck Creek Technologies Inc. [DCT] has a Total Debt to Total Equity ratio set at 3.45. Additionally, DCT Total Debt to Total Capital is recorded at 3.34, with Total Debt to Total Assets ending up at 2.94. Long-Term Debt to Equity for the company is recorded at 2.96, with the Long-Term Debt to Total Capital now at 2.86.
Receivables Turnover for the company is 4.72 with a Total Asset Turnover recorded at a value of 0.32.Duck Creek Technologies Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.00.
Insider trade positions for Duck Creek Technologies Inc. [DCT]
There are presently around $88 million, or 12.50% of DCT stock, in the hands of institutional investors. The top three institutional holders of DCT stocks are: BLACKROCK INC. with ownership of 858,613, which is approximately New of the company’s market cap and around 3.20% of the total institutional ownership; WELLS FARGO & COMPANY/MN, holding 533,389 shares of the stock with an approximate value of $21.34 million in DCT stocks shares; and DAIWA SECURITIES GROUP INC., currently with $5.79 million in DCT stock with ownership of nearly New of the company’s market capitalization.
Positions in Duck Creek Technologies Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 25 institutional holders increased their position in Duck Creek Technologies Inc. [NASDAQ:DCT] by around 2,203,754 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 2,203,754 shares, according to the latest SEC report filing. DCT stock had 25 new institutional investments in for a total of 2,203,754 shares, while 0 institutional investors sold positions of 0 shares during the same period.