Softcat (LON:SCT) Shares Cross Below 50 Day Moving Average – Here’s Why

Softcat plc (LON:SCT)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 1,581.49 and traded as low as GBX 1,469. Softcat shares last traded at GBX 1,481, with a volume of 230,066 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SCT shares. Citigroup lowered their price target on Softcat from GBX 2,000 to GBX 1,960 and set a “buy” rating for the company in a report on Tuesday, August 19th. Shore Capital reissued a “buy” rating and set a GBX 1,925 price target on shares of Softcat in a research report on Wednesday, October 22nd. UBS Group reissued a “sell” rating and set a GBX 1,400 target price on shares of Softcat in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft upgraded Softcat to a “buy” rating and upped their target price for the stock from GBX 1,830 to GBX 1,900 in a report on Thursday, October 23rd. Finally, Jefferies Financial Group boosted their target price on shares of Softcat from GBX 1,400 to GBX 1,450 and gave the stock an “underperform” rating in a report on Thursday, October 23rd. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 1,724.25.

Softcat Stock Down 0.5%

The firm has a market capitalization of £2.95 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 11.51 and a beta of 0.71. The company has a quick ratio of 1.38, a current ratio of 1.60 and a debt-to-equity ratio of 3.48. The company’s 50 day moving average price is GBX 1,581.49 and its 200 day moving average price is GBX 1,656.65.

Softcat (LON:SCT) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported GBX 69.50 earnings per share for the quarter. Softcat had a return on equity of 43.79% and a net margin of 12.37%. As a group, research analysts forecast that Softcat plc will post 60.72 earnings per share for the current fiscal year.

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.