Softcat (LON:SCT) Share Price Passes Above 50-Day Moving Average – What’s Next?

Softcat plc (LON:SCT) passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of GBX 1,271.48 and traded as high as GBX 1,375. Softcat shares last traded at GBX 1,374, with a volume of 1,124,535 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SCT. Shore Capital Group reaffirmed a “buy” rating on shares of Softcat in a research report on Thursday, March 19th. Jefferies Financial Group cut their price objective on Softcat from GBX 1,500 to GBX 1,210 and set a “hold” rating on the stock in a research report on Thursday, March 19th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 1,900 price objective on shares of Softcat in a research report on Thursday, March 19th. Seven research 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. According to data from MarketBeat.com, Softcat presently has an average rating of “Moderate Buy” and an average target price of GBX 1,908.89.

Softcat Stock Up 0.5%

The business has a 50-day moving average price of GBX 1,271.48 and a two-hundred day moving average price of GBX 1,344. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 13.07. The firm has a market cap of £2.70 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 11.51 and a beta of 0.53.

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

Insider Buying and Selling

In other Softcat news, insider Kathryn Mecklenburgh bought 24,461 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average price of GBX 1,332 per share, with a total value of £325,820.52. Insiders acquired a total of 31,834 shares of company stock valued at $42,647,394 over the last 90 days. Corporate insiders own 2.89% 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.