Softcat (LON:SCT) Shares Pass Below 200 Day Moving Average – Here’s What Happened

Softcat plc (LON:SCT) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 1,433.71 and traded as low as GBX 1,145. Softcat shares last traded at GBX 1,168, with a volume of 203,035 shares.

Analysts Set New Price Targets

Several equities analysts have commented on SCT shares. Peel Hunt reissued a “buy” rating and issued a GBX 2,135 target price on shares of Softcat in a report on Tuesday, November 18th. JPMorgan Chase & Co. raised shares of Softcat to an “overweight” rating and upped their price target for the stock from GBX 2,820 to GBX 2,950 in a report on Thursday, December 4th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Softcat presently has a consensus rating of “Hold” and an average target price of GBX 1,902.22.

Softcat Stock Up 1.0%

The firm has a 50-day simple moving average of GBX 1,272.27 and a 200 day simple moving average of GBX 1,433.71. The stock has a market capitalization of £2.29 billion, a P/E ratio of 17.64, a P/E/G ratio of 11.51 and a beta of 0.62. The company has a debt-to-equity ratio of 10.39, a current ratio of 1.28 and a quick ratio of 1.38.

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.