Duck Creek Technologies’ (NASDAQ: DCT) stocks rallied the day after its IPO. At first, the stock price was $27 for the IPO. However, the next day, DCT saw a sharp increase to its evaluation when it opened at $42.
Duck Creek held its IPO on Thursday, August 13th. In doing so, it offered 15 million shares of its common stock. According to Duck Creek’s IPO registration with the SEC, Goldman Sachs & Co. LLC, J.P. Morgan and BofA Securities were lead underwriters. Also, Barclays and RBC Capital Markets were underwriters. In addition to this, JMP Securities, Needham & Company, Stifel, William Blair, D.A. Davidson & Co, Raymond James and Loop Capital Markets acted as co-managers.
As a result of its IPO, Duck Creek raised $405 million. Furthermore, for a period of 30 day…