Softcat (LON:SCT) Trading 9.8% Higher – Here’s What Happened

Shares of Softcat plc (LON:SCT) were up 9.8% during mid-day trading on Friday . The stock traded as high as GBX 1,621.61 and last traded at GBX 1,584. Approximately 13,754,611 shares were traded during trading, an increase of 419% from the average daily volume of 2,650,307 shares. The stock had previously closed at GBX 1,442.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SCT shares. Shore Capital Group reissued a “buy” rating on shares of Softcat in a report on Thursday, March 19th. Jefferies Financial Group cut their price objective on shares of Softcat from GBX 1,500 to GBX 1,210 and set a “hold” rating on the stock in a report on Thursday, March 19th. Finally, Berenberg Bank reissued a “buy” rating and set a GBX 1,900 price objective on shares of Softcat in a report on Thursday, March 19th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,908.89.

Softcat Trading Up 10.7%

The company has a market capitalization of £3.13 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 11.51 and a beta of 0.53. The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38. The company’s fifty day moving average is GBX 1,291.18 and its 200-day moving average is GBX 1,336.55.

Softcat (LON:SCT) last announced its earnings results on Wednesday, March 18th. The company reported GBX 36.10 earnings per share for the quarter. Softcat had a net margin of 8.06% and a return on equity of 45.16%. On average, analysts anticipate that Softcat plc will post 60.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kathryn Mecklenburgh bought 7,352 shares of the stock in a transaction on Monday, April 27th. The stock was bought at an average cost of GBX 1,365 per share, for a total transaction of £100,354.80. Insiders have purchased 31,834 shares of company stock valued at $42,647,394 in the last three months. 2.89% of the stock is owned by company insiders.

About Softcat

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.