Softcat (LON:SCT) Price Target Raised to GBX 2,400

Softcat (LON:SCT) had its price objective upped by Berenberg Bank from GBX 1,950 to GBX 2,400 in a research note published on Monday morning,Digital Look reports. They currently have a buy rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Softcat to a “hold” rating and upped their price target for the company from GBX 1,800 to GBX 2,140 in a research note on Wednesday, August 26th. JPMorgan Chase & Co. lifted their price objective on shares of Softcat from GBX 1,950 to GBX 2,300 and gave the stock an “overweight” rating in a research note on Monday, September 7th. Royal Bank Of Canada downgraded shares of Softcat to a “neutral” rating and boosted their target price for the stock from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 1,700 target price on shares of Softcat in a research report on Thursday, June 25th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 1,993.75.

Softcat Stock Down 3.6%

Shares of SCT opened at GBX 1,847 on Monday. 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 stock has a market capitalization of £3.63 billion, a price-to-earnings ratio of 26.35, a price-to-earnings-growth ratio of 11.51 and a beta of 0.58. Softcat has a 1 year low of GBX 1,083 and a 1 year high of GBX 2,134. The business’s 50 day simple moving average is GBX 1,962.92 and its 200-day simple moving average is GBX 1,670.74.

Insider Buying and Selling at Softcat

In other news, insider Graham Charlton acquired 176 shares of the business’s stock in a transaction on Monday, September 7th. The shares were acquired at an average price of GBX 2,045 per share, for a total transaction of £3,599.20. Also, insider Kathryn Mecklenburgh acquired 176 shares of the business’s stock in a transaction on Monday, September 7th. The shares were purchased at an average price of GBX 2,045 per share, for a total transaction of £3,599.20. Insiders have purchased a total of 382 shares of company stock worth $778,745 in the last 90 days. 2.90% of the stock is currently owned by insiders.

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.