Softcat (LON:SCT) Stock Breaks Below 50-Day Moving Average – Here’s What Happened

Softcat plc (LON:SCT)’s stock price passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of GBX 1,956.84 and traded as low as GBX 1,788. Softcat shares last traded at GBX 1,839, with a volume of 42,989,012 shares.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SCT. Jefferies Financial Group restated a “hold” rating and set a GBX 1,700 target price on shares of Softcat in a research report on Thursday, June 25th. Berenberg Bank increased their price target on shares of Softcat from GBX 1,950 to GBX 2,400 and gave the stock a “buy” rating in a research report on Monday, September 21st. JPMorgan Chase & Co. lifted their price target on shares of Softcat from GBX 1,950 to GBX 2,300 and gave the stock an “overweight” rating in a research note on Monday, September 7th. Royal Bank Of Canada lowered Softcat to a “neutral” rating and upped their price objective for the stock from GBX 1,550 to GBX 1,950 in a research note on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft cut Softcat to a “hold” rating and raised their target price for the stock from GBX 1,800 to GBX 2,140 in a report on Wednesday, August 26th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of GBX 1,993.75.

Softcat Trading Up 0.5%

The stock has a 50 day moving average of GBX 1,957.06 and a 200-day moving average of GBX 1,698.02. The company has a market capitalization of £3.66 billion, a P/E ratio of 26.62, a P/E/G ratio of 11.51 and a beta of 0.58. The company has a current ratio of 1.25, a quick ratio of 1.38 and a debt-to-equity ratio of 13.07.

Insider Buying and Selling

In other news, insider Graham Charlton acquired 176 shares of the firm’s stock in a transaction dated Monday, September 7th. The shares were purchased at an average cost of GBX 2,045 per share, for a total transaction of £3,599.20. Also, insider Kathryn Mecklenburgh bought 176 shares of the stock in a transaction that occurred on Monday, September 7th. The shares were purchased at an average price of GBX 2,045 per share, for a total transaction of £3,599.20. Over the last quarter, insiders acquired 382 shares of company stock valued at $778,745. Company insiders own 2.90% of the company’s stock.

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.