Softcat (LON:SCT) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Softcat plc (LON:SCT) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of GBX 1,612.16 and traded as high as GBX 1,635. Softcat shares last traded at GBX 1,614, with a volume of 39,728,984 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have commented on SCT. Jefferies Financial Group restated a “hold” rating and set a GBX 1,700 price objective on shares of Softcat in a report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft lowered Softcat to a “hold” rating and upped their price objective for the stock from GBX 1,800 to GBX 2,140 in a research report on Wednesday, August 26th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 2,400 price target on shares of Softcat in a research note on Friday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on Softcat from GBX 1,950 to GBX 2,300 and gave the stock an “overweight” rating in a research note on Monday, September 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Softcat has a consensus rating of “Moderate Buy” and an average price target of GBX 2,104.17.

Softcat Stock Performance

The company has a debt-to-equity ratio of 10.41, a quick ratio of 1.38 and a current ratio of 1.39. The stock’s 50-day simple moving average is GBX 1,818 and its 200 day simple moving average is GBX 1,613.67. The company has a market cap of £3.37 billion, a PE ratio of 22.35, a P/E/G ratio of 11.51 and a beta of 0.60.

Softcat (LON:SCT) last announced its quarterly earnings results on Wednesday, October 14th. The company reported GBX 75.80 earnings per share for the quarter. Softcat had a return on equity of 46.24% and a net margin of 7.61%. As a group, equities analysts anticipate that Softcat plc will post 60.72 EPS for the current year.

Insider Buying and Selling

In other news, insider Robyn Perriss purchased 1,058 shares of the company’s stock in a transaction on Friday, October 16th. The shares were bought at an average price of GBX 1,890 per share, for a total transaction of £19,996.20. Also, insider Lynne Weedall bought 1,058 shares of the firm’s stock in a transaction that occurred on Friday, October 16th. The shares were purchased at an average cost of GBX 1,890 per share, with a total value of £19,996.20. In the last quarter, insiders have acquired 12,801 shares of company stock worth $24,216,354. 2.91% of the stock is currently owned by insiders.

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.