Numis Securities Initiates Coverage on Softcat (SCT)

Numis Securities began coverage on shares of Softcat (LON:SCT) in a research note issued to investors on Monday, ThisIsMoney.Co.Uk reports. The brokerage set an “add” rating and a GBX 990 ($12.94) price target on the stock. Numis Securities’ price target points to a potential upside of 11.11% from the stock’s previous close.

Separately, Berenberg Bank reissued a “buy” rating and issued a GBX 900 ($11.76) price target on shares of Softcat in a research report on Thursday, January 10th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of GBX 829 ($10.83).

LON SCT opened at GBX 891 ($11.64) on Monday. Softcat has a 12-month low of GBX 551 ($7.20) and a 12-month high of GBX 906 ($11.84). The firm has a market capitalization of $1.76 billion and a P/E ratio of 28.20.

In other Softcat news, insider Graham Charlton sold 46,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of GBX 863 ($11.28), for a total transaction of £396,980 ($518,724.68). Also, insider Martin Hellawell sold 99,292 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of GBX 873 ($11.41), for a total value of £866,819.16 ($1,132,652.76).

About Softcat

Softcat plc primarily acts as a value-added IT reseller and IT infrastructure solutions provider in the United Kingdom. The company advices, designs, procures, implements, and manages technology for businesses and public sector organizations, such as software licensing, workplace technology, networking, security, and cloud and datacenter.

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Analyst Recommendations for Softcat (LON:SCT)

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