Softcat (LON:SCT) Hits New 12-Month High – Here’s Why

Softcat plc (LON:SCT)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as GBX 1,918 and last traded at GBX 1,918, with a volume of 203485 shares changing hands. The stock had previously closed at GBX 1,830.

Wall Street Analyst Weigh In

Several research firms have commented on SCT. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 1,700 price target on shares of Softcat in a report on Thursday, June 25th. Shore Capital Group reaffirmed a “buy” rating on shares of Softcat in a report on Thursday, March 19th. Royal Bank Of Canada lowered Softcat to a “neutral” rating and boosted their price objective for the stock from GBX 1,550 to GBX 1,950 in a research note on Monday, June 15th. Berenberg Bank lifted their price target on Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Softcat from GBX 1,700 to GBX 1,800 and gave the company a “buy” rating in a report on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 1,957.

Softcat Stock Up 4.6%

The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38. The business has a 50 day simple moving average of GBX 1,607.93 and a 200 day simple moving average of GBX 1,401.21. The company has a market capitalization of £3.76 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 11.51 and a beta of 0.58.

Insider Activity at Softcat

In other Softcat news, insider Kathryn Mecklenburgh purchased 24,461 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was bought at an average price of GBX 1,332 per share, with a total value of £325,820.52. Insiders have purchased a total of 31,850 shares of company stock valued at $42,677,746 over the last ninety days. Company insiders own 2.91% of the company’s stock.

About Softcat

Softcat plc operates as a value-added IT reseller and IT infrastructure solutions provider in the United Kingdom. The company advices, procures, designs, implements, and manages technology, such as software licensing, workplace technology, networking, security, and cloud and datacenter for businesses and public sector organizations. It also offers public cloud, collaboration, connectivity, data centre and private cloud, devices, and financial solution services. In addition, the company provides IT asset management, lifecycle solutions, modern management, security, software licensing, supply chain operation, and virtual desktop and application.