Softcat (LON:SCT) Stock Price Down 8.5% – Here’s Why

Softcat plc (LON:SCT) shares were down 8.5% on Tuesday . The company traded as low as GBX 1,851 and last traded at GBX 1,867. 407,705 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,906,154 shares. The stock had previously closed at GBX 2,040.

Analyst Ratings Changes

SCT has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Softcat from GBX 1,950 to GBX 2,300 and gave the stock an “overweight” rating in a research note on Monday. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 1,700 price objective on shares of Softcat in a research note on Thursday, June 25th. Berenberg Bank raised their target price on Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lowered Softcat to a “neutral” rating and boosted their target price for the company from GBX 1,550 to GBX 1,950 in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft cut Softcat to a “hold” rating and upped their price target for the company from GBX 1,800 to GBX 2,140 in a research report on Wednesday, August 26th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Softcat presently has a consensus rating of “Hold” and an average target price of GBX 1,937.50.

Softcat Price Performance

The firm’s 50 day moving average price is GBX 1,966.21 and its two-hundred day moving average price is GBX 1,606.29. The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38. The stock has a market cap of £3.67 billion, a PE ratio of 26.63, a P/E/G ratio of 11.51 and a beta of 0.57.

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.