Softcat (LON:SCT) Hits New 52-Week High – Here’s Why

Softcat plc (LON:SCT) shares reached a new 52-week high on Friday . The stock traded as high as GBX 2,002.43 and last traded at GBX 2,000, with a volume of 104349 shares. The stock had previously closed at GBX 1,992.

Analysts Set New Price Targets

SCT has been the topic of a number of analyst reports. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 1,700 price objective on shares of Softcat in a report on Thursday, June 25th. Berenberg Bank lifted their target price on Softcat from GBX 1,900 to GBX 1,950 and gave the company a “buy” rating in a report on Tuesday, May 26th. Royal Bank Of Canada lowered Softcat to a “neutral” rating and boosted their price objective for the stock from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Softcat from GBX 1,700 to GBX 1,800 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 1,974.44.

Softcat Price Performance

The business has a 50-day simple moving average of GBX 1,869.32 and a 200 day simple moving average of GBX 1,492.54. The firm has a market cap of £3.89 billion, a P/E ratio of 28.26, a price-to-earnings-growth ratio of 11.51 and a beta of 0.58. The company has a debt-to-equity ratio of 13.07, a quick ratio of 1.38 and a current ratio of 1.25.

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.