Softcat PLC (SCT) Coverage Initiated at Berenberg Bank
Analysts at Berenberg Bank initiated coverage on shares of Softcat PLC (LON:SCT) in a research report issued on Friday. The firm set a “buy” rating and a GBX 425 ($6.15) price target on the stock. Berenberg Bank’s price objective indicates a potential upside of 28.98% from the stock’s current price.
Shares of Softcat PLC (LON:SCT) opened at 347.900 on Friday. The stock’s market capitalization is GBX 681.65 million. The company has a 50-day moving average of GBX 322.46 and a 200 day moving average of GBX 317.33. Softcat PLC has a 12-month low of GBX 240.00 and a 12-month high of GBX 355.00.
The company also recently disclosed a dividend, which was paid on Friday, April 29th. Investors of record on Thursday, March 31st were issued a dividend of GBX 1.70 ($0.02) per share. The ex-dividend date was Thursday, March 31st. This represents a yield of 0.55%.
Several other research firms have also recently commented on SCT. Peel Hunt reissued a “buy” rating and issued a GBX 380 ($5.50) price target on shares of Softcat PLC in a report on Thursday, March 3rd. Credit Suisse reaffirmed a “neutral” rating and set a GBX 340 ($4.92) price objective on shares of Softcat PLC in a report on Tuesday.
In other news, insider Charlton,Graham acquired 528 shares of Softcat PLC stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average cost of GBX 340 ($4.92) per share, with a total value of £1,795.20 ($2,597.60).
Softcat plc, formerly Softcat Limited, is an information technology (IT) infrastructure and services provider. The Company provides corporate and public sector organization’s with IT infrastructure solutions, including the products and services they require to design, implement, support and manage these solutions, on premise, in the cloud or a combination of both.