Softcat (LON:SCT) Reaches New 1-Year Low – What’s Next?

Softcat plc (LON:SCT)’s stock price reached a new 52-week low during trading on Monday . The stock traded as low as GBX 1,119.53 and last traded at GBX 1,125, with a volume of 604471 shares trading hands. The stock had previously closed at GBX 1,136.29.

Wall Street Analysts Forecast Growth

SCT has been the subject of a number of research reports. JPMorgan Chase & Co. upgraded shares of Softcat to an “overweight” rating and raised their target price for the stock from GBX 2,820 to GBX 2,950 in a research note on Thursday, December 4th. Peel Hunt reissued a “buy” rating and issued a GBX 2,135 price target on shares of Softcat in a report on Tuesday, November 18th. Jefferies Financial Group raised their price objective on shares of Softcat from GBX 1,400 to GBX 1,450 and gave the stock an “underperform” rating in a research report on Thursday, October 23rd. Deutsche Bank Aktiengesellschaft upgraded Softcat to a “buy” rating and boosted their price objective for the stock from GBX 1,830 to GBX 1,900 in a report on Thursday, October 23rd. Finally, Shore Capital Group reiterated a “buy” rating and set a GBX 1,925 target price on shares of Softcat in a research note on Wednesday, October 22nd. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of GBX 1,902.22.

Softcat Stock Performance

The stock’s 50-day simple moving average is GBX 1,375.85 and its 200-day simple moving average is GBX 1,487.09. The stock has a market cap of £2.22 billion, a price-to-earnings ratio of 16.98, a price-to-earnings-growth ratio of 11.51 and a beta of 0.71. The company has a current ratio of 1.60, a quick ratio of 1.38 and a debt-to-equity ratio of 3.48.

Insiders Place Their Bets

In other news, insider Graeme Watt sold 20,213 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of GBX 1,429, for a total transaction of £288,843.77. Also, insider Graham Charlton sold 15,919 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of GBX 1,456, for a total value of £231,780.64. In the last 90 days, insiders have acquired 47 shares of company stock worth $59,452 and have sold 46,069 shares worth $66,262,414. 2.87% of the stock is owned by company insiders.

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.