Softcat (LON:SCT) Hits New 12-Month High – Here’s What Happened

Softcat plc (LON:SCT)’s stock price reached a new 52-week high on Friday . The stock traded as high as GBX 2,046 and last traded at GBX 2,040.09, with a volume of 71670 shares trading hands. The stock had previously closed at GBX 2,008.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SCT. Berenberg Bank raised their price target on shares of Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft upped their price objective on Softcat from GBX 1,700 to GBX 1,800 and gave the company a “buy” rating in a report on Tuesday, May 26th. Jefferies Financial Group reissued a “hold” rating and set a GBX 1,700 target price on shares of Softcat in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada downgraded Softcat to a “neutral” rating and lifted 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 issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 1,974.44.

Softcat Trading Up 1.9%

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 has a market cap of £4.02 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 11.51 and a beta of 0.57. The company’s 50 day simple moving average is GBX 1,884.78 and its two-hundred day simple moving average is GBX 1,513.16.

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.