Softcat (LON:SCT) Hits New 52-Week High – Here’s Why

Softcat plc (LON:SCT)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as GBX 2,060 and last traded at GBX 2,030.44, with a volume of 9990 shares changing hands. The stock had previously closed at GBX 2,036.

Analyst Upgrades and Downgrades

SCT has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered shares of Softcat to a “neutral” rating and raised their price target for the stock from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Softcat from GBX 1,700 to GBX 1,800 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,700 target price on shares of Softcat in a report on Thursday, June 25th. Finally, Berenberg Bank raised their target price on Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,976.25.

Softcat Stock Performance

The business has a fifty day moving average of GBX 1,896.40 and a 200 day moving average of GBX 1,530.38. The company has a market cap of £3.99 billion, a P/E ratio of 29.02, a P/E/G ratio of 11.51 and a beta of 0.57. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 13.07.

Softcat Company Profile

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.