Softcat (LON:SCT) Sets New 1-Year High – Time to Buy?

Softcat plc (LON:SCT) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as GBX 1,978 and last traded at GBX 1,976, with a volume of 360262 shares changing hands. The stock had previously closed at GBX 1,930.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SCT. Berenberg Bank boosted their price target on Softcat from GBX 1,900 to GBX 1,950 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft raised their price objective on Softcat from GBX 1,700 to GBX 1,800 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 1,700 price objective on shares of Softcat in a report on Thursday, June 25th. Finally, Royal Bank Of Canada downgraded Softcat to a “neutral” rating and upped their target price for the company from GBX 1,550 to GBX 1,950 in a research report on Monday, June 15th. Six equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,974.44.

Softcat Price Performance

The firm has a market capitalization of £3.87 billion, a P/E ratio of 28.09, a PEG ratio of 11.51 and a beta of 0.58. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 13.07. The business’s 50 day moving average is GBX 1,827.91 and its 200-day moving average is GBX 1,471.77.

Softcat Company Profile

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.