Computacenter (CCC) Hits New 52-Week Low Following Analyst Downgrade
Computacenter plc (LON:CCC) shares hit a new 52-week low during trading on Thursday after Barclays lowered their price target on the stock from GBX 1,100 to GBX 1,000. Barclays currently has an underweight rating on the stock. Computacenter traded as low as GBX 956 ($12.49) and last traded at GBX 969 ($12.66), with a volume of 192098 shares trading hands. The stock had previously closed at GBX 996 ($13.01).
A number of other research analysts also recently commented on CCC. UBS Group upgraded Computacenter to a “neutral” rating and boosted their target price for the company from GBX 1,255 ($16.40) to GBX 1,285 ($16.79) in a research note on Wednesday, October 3rd. Berenberg Bank restated a “buy” rating and issued a GBX 1,850 ($24.17) target price on shares of Computacenter in a research note on Tuesday, October 30th.
In related news, insider Greg Lock purchased 2,000 shares of the firm’s stock in a transaction dated Wednesday, October 10th. The stock was bought at an average price of GBX 1,204 ($15.73) per share, for a total transaction of £24,080 ($31,464.79). Also, insider Raymond Gray purchased 1,800 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were bought at an average price of GBX 1,081 ($14.13) per share, with a total value of £19,458 ($25,425.32). Insiders acquired 60,800 shares of company stock worth $70,929,800 in the last 90 days.
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Computacenter plc, through its subsidiaries, provides information technology (IT) infrastructure services in the United Kingdom, Germany, France, and Belgium. The company offers information security, and identity and access management solutions, as well as endpoint, infrastructure, and cyber security solutions; network solutions, including local area and datacenter network, and physical infrastructure; and datacenter solutions, such as enterprise computing, hybrid cloud, data and storage management, and analytics and big data.
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