Leading provider of SaaS core systems for the P&C and General Insurance industry, Duck Creek Technologies (DCT) has selected Futran Solutions as a consulting partner to broaden the company’s capabilities and technologies. Duck Creek customers can now leverage Futran’s expertise to strengthen their in-house competency and accelerate their digital transformations.
Futran Solutions is a digital technology company specializing in Data Analytics, Cloud, Automation, Integration, and Data Solutions. Futran has created the “Make it Ez” framework, which eases implementation and testing processes, and is also developing several process accelerators.
With the addition of Futran’s “Make it Ez” framework, Duck Creek will speed up its digital transformation initiatives, benefiting organizations and customers. (See DCT stock chart on TipRanks)
Futran Solutions’ CEO Anil Vazirani said, “Futran’s vision is to be the ‘Best Insourcing Partner’ for insurers and help them build in-house competency in the insurance domain and Duck Creek solutions by seeding in the best talent and bringing in proven accelerators.”
Meanwhile, shares of Duck Creek Technologies fell 1.4% to close at $40.28 on June 21.
D.A. Davidson analyst Peter Heckmann recently assumed coverage on Duck Creek Technologies with a Buy rating but decreased the price target from $54 to $50 (24.1% upside potential).
Heckmann forecasts Duck Creek to either affirm or even raise its FY22 guidance when it reports Q3 results next month. He believes that the company has ample room to gain market share in the global P&C insurance industry.
Overall, the stock has a Strong Buy consensus rating based on 7 Buys and 1 Hold. The average Duck Creek analyst price target of $51.57 implies 28% upside potential from current levels.