Computacenter (LON:CCC) Share Price Breaks Above 200 Day Moving Average – Here’s Why

Computacenter plc (LON:CCC)’s share price passed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 4,545.91 and traded as high as GBX 5,095. Computacenter shares last traded at GBX 4,929.11, with a volume of 321,470 shares changing hands.

Analyst Ratings Changes

CCC has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price objective on Computacenter from GBX 5,000 to GBX 6,000 and gave the stock an “overweight” rating in a report on Monday, September 7th. Berenberg Bank boosted their target price on Computacenter from GBX 5,300 to GBX 6,500 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 6,500 target price on shares of Computacenter in a report on Tuesday, September 8th. Four analysts have rated the stock with a Buy rating. According to MarketBeat, Computacenter currently has a consensus rating of “Buy” and a consensus price target of GBX 5,675.

Computacenter Stock Performance

The company has a debt-to-equity ratio of 20.49, a current ratio of 1.10 and a quick ratio of 0.94. The stock has a 50-day simple moving average of GBX 5,311.33 and a 200-day simple moving average of GBX 4,572.63. The stock has a market cap of £5.07 billion, a P/E ratio of 24.94, a PEG ratio of 6.99 and a beta of 0.95.

Computacenter (LON:CCC) last posted its earnings results on Tuesday, September 8th. The company reported GBX 103 EPS for the quarter. Computacenter had a net margin of 1.70% and a return on equity of 21.78%. Research analysts forecast that Computacenter plc will post 187.50 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Kelly Kuhn acquired 1,035 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was acquired at an average cost of GBX 4,836 per share, for a total transaction of £50,052.60. Also, insider Keith Mortimer sold 181 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of GBX 4,608, for a total transaction of £8,340.48. 43.80% of the stock is owned by corporate insiders.

About Computacenter

Computacenter is a leading independent technology and services provider, trusted by large corporate and public sector organisations.

We are a responsible business that believes in winning together for our people and our planet. We help our customers to Source, Transform and Manage their technology infrastructure to deliver digital transformation, enabling people and their business.

Computacenter is a public company quoted on the London FTSE 250 (CCC.L) and employs over 20,000 people worldwide.