Softcat (LON:SCT) Sets New 12-Month High – Here’s What Happened

Softcat plc (LON:SCT) shares reached a new 52-week high on Wednesday . The stock traded as high as GBX 1,918 and last traded at GBX 1,918, with a volume of 203485 shares trading hands. The stock had previously closed at GBX 1,830.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SCT. Jefferies Financial Group restated a “hold” rating and set a GBX 1,700 price objective on shares of Softcat in a research report on Thursday, June 25th. Royal Bank Of Canada lowered shares of Softcat to a “neutral” rating and raised their target price for the stock from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. Shore Capital Group reiterated a “buy” rating on shares of Softcat in a report on Thursday, March 19th. Berenberg Bank increased their price objective on shares of Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Softcat from GBX 1,700 to GBX 1,800 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 1,957.

Softcat Trading Up 4.6%

The firm has a market capitalization of £3.76 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 11.51 and a beta of 0.58. The stock’s 50-day moving average price is GBX 1,607.93 and its 200 day moving average price is GBX 1,401.21. The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38.

Insider Buying and Selling

In other news, insider Kathryn Mecklenburgh acquired 24,461 shares of Softcat stock in a transaction on Thursday, April 23rd. The shares were bought at an average cost of GBX 1,332 per share, for a total transaction of £325,820.52. In the last quarter, insiders acquired 31,850 shares of company stock worth $42,677,746. Company insiders own 2.91% 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.