Softcat (LON:SCT) Shares Cross Below 200-Day Moving Average – Here’s What Happened

Shares of Softcat plc (LON:SCT) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,433.71 and traded as low as GBX 1,145. Softcat shares last traded at GBX 1,168, with a volume of 203,035 shares traded.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SCT. JPMorgan Chase & Co. upgraded shares of Softcat to an “overweight” rating and upped their price objective for the stock from GBX 2,820 to GBX 2,950 in a research report on Thursday, December 4th. Peel Hunt reissued a “buy” rating and set a GBX 2,135 target price on shares of Softcat in a research note on Tuesday, November 18th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of GBX 1,902.22.

Softcat Stock Performance

The company has a current ratio of 1.28, a quick ratio of 1.38 and a debt-to-equity ratio of 10.39. The stock’s fifty day simple moving average is GBX 1,272.27 and its 200 day simple moving average is GBX 1,432.79. The company has a market cap of £2.29 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 11.51 and a beta of 0.62.

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.