Berenberg Bank Issues Positive Forecast for Softcat (LON:SCT) Stock Price

Softcat (LON:SCT) had its price target upped by equities researchers at Berenberg Bank from GBX 1,900 to GBX 1,950 in a research report issued on Tuesday,London Stock Exchange reports. The firm currently has a “buy” rating on the stock. Berenberg Bank’s price target would indicate a potential upside of 19.12% from the stock’s current price.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group lowered their price target on shares of Softcat from GBX 1,500 to GBX 1,210 and set a “hold” rating for the company in a report on Thursday, March 19th. Shore Capital Group reaffirmed a “buy” rating on shares of Softcat in a report on Thursday, March 19th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Softcat currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,914.44.

Softcat Stock Up 0.6%

SCT opened at GBX 1,637 on Tuesday. The firm has a 50-day simple moving average of GBX 1,309.82 and a two-hundred day simple moving average of GBX 1,337.14. Softcat has a 52 week low of GBX 1,083 and a 52 week high of GBX 1,960. The company has a market capitalization of £3.21 billion, a PE ratio of 23.35, a price-to-earnings-growth ratio of 11.51 and a beta of 0.53. 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 (LON:SCT) last released its quarterly earnings data on Wednesday, March 18th. The company reported GBX 36.10 EPS for the quarter. Softcat had a net margin of 8.06% and a return on equity of 45.16%. Analysts forecast that Softcat will post 60.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Softcat

In other Softcat news, insider Kathryn Mecklenburgh purchased 7,352 shares of Softcat stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of GBX 1,365 per share, for a total transaction of £100,354.80. Insiders purchased 31,834 shares of company stock valued at $42,647,394 in the last quarter. Corporate insiders own 2.89% 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.