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

Softcat plc (LON:SCT) hit a new 52-week low during trading on Tuesday. The company traded as low as GBX 692.96 and last traded at GBX 1,712.73, with a volume of 539,789 shares trading hands. The stock had previously closed at GBX 1,720.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SCT. Deutsche Bank Aktiengesellschaft lowered Softcat to a “hold” rating and upped their target price for the stock from GBX 1,800 to GBX 2,140 in a research report on Wednesday, August 26th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 1,700 price target on shares of Softcat in a report on Wednesday, October 14th. JPMorgan Chase & Co. boosted their price target on Softcat from GBX 1,950 to GBX 2,300 and gave the company an “overweight” rating in a research note on Monday, September 7th. Finally, Berenberg Bank reissued a “buy” rating and issued a GBX 2,400 price target on shares of Softcat in a research note on Friday, October 16th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 2,104.17.

Softcat Trading Down 0.9%

The company’s 50 day moving average price is GBX 1,912.86 and its 200 day moving average price is GBX 1,756.46. The company has a market cap of £3.60 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 11.51 and a beta of 0.58. The company has a debt-to-equity ratio of 10.41, a quick ratio of 1.38 and a current ratio of 1.39.

Softcat (LON:SCT) last released its quarterly earnings results on Wednesday, October 14th. The company reported GBX 75.80 earnings per share for the quarter. Softcat had a net margin of 7.61% and a return on equity of 46.24%. Research analysts anticipate that Softcat plc will post 60.72 EPS for the current year.

Insider Activity

In related news, insider Robyn Perriss purchased 1,058 shares of Softcat stock in a transaction on Friday, October 16th. The stock was bought at an average price of GBX 1,890 per share, with a total value of £19,996.20. Also, insider Lynne Weedall purchased 1,058 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were bought at an average price of GBX 1,890 per share, with a total value of £19,996.20. Over the last three months, insiders acquired 12,816 shares of company stock valued at $24,246,219. Corporate 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.