JPMorgan Starts Duck Creek Technologies (DCT) at Neutral

(Updated - December 1, 2022 5:40 AM EST)

JPMorgan analyst Alexei Gogolev initiates coverage on Duck Creek Technologies (NASDAQ: DCT) with a Neutral rating and a price target of $13.00.

The analyst comments "Duck Creek provides software solutions to improve the operational efficiency of insurers’ core processes: policy administration, claims management, and billing. Customers have the option of subscribing to one, two, or all of Duck Creek’s core products: effectively all of their new customers are cloud customers. Duck Creek has over 150 insurance customers : almost half of those (70 insurers) use one or more SaaS products, and about a fourth (35 insurers) use the whole Duck Creek Suite. Duck Creek prices both its SaaS and license arrangements at individually negotiated rates based on a customer’s direct written premiums that will be managed by Duck Creek’s products. Duck Creek and a given customer agree to pre-determined fee adjustments as the customer’s DWP increases over the term of the contract. SaaS arrangements typically last three to seven years."

For an analyst ratings summary and ratings history on Duck Creek Technologies click here. For more ratings news on Duck Creek Technologies click here.

Shares of Duck Creek Technologies closed at $11.19 yesterday.

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