Softcat (SCT) Hits New 12-Month High at $847.00
Softcat PLC (LON:SCT) hit a new 52-week high during trading on Thursday . The stock traded as high as GBX 847 ($10.80) and last traded at GBX 845 ($10.78), with a volume of 246727 shares traded. The stock had previously closed at GBX 826 ($10.54).
Several equities research analysts have commented on SCT shares. Jefferies Financial Group lowered shares of Softcat to a “hold” rating and boosted their target price for the stock from GBX 600 ($7.65) to GBX 690 ($8.80) in a research report on Thursday, May 17th. Citigroup boosted their target price on shares of Softcat from GBX 600 ($7.65) to GBX 805 ($10.27) and gave the stock a “neutral” rating in a research report on Tuesday, July 17th. Finally, Credit Suisse Group boosted their target price on shares of Softcat from GBX 700 ($8.93) to GBX 740 ($9.44) and gave the stock a “neutral” rating in a research report on Monday, June 25th.
In other Softcat news, insider Martin Hellawell sold 860,000 shares of the business’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of GBX 715 ($9.12), for a total transaction of £6,149,000 ($7,844,112.77).
Softcat plc primarily acts as a value-added IT reseller in the United Kingdom. It provides IT infrastructure services to corporate and public sector organizations, such as software licensing, workplace technology, cloud and datacenter, and networking and security services. The company also offers business intelligence and analytics solutions; asset management solutions; cloud and managed services; collaboration solutions; commodity sourcing solutions; end user computing and mobility solutions; and print solutions, as well as provides professional services.
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