Softcat (LON:SCT) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Softcat plc (LON:SCT) passed above its fifty day moving average during trading on Friday . The stock has a fifty 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.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SCT. Shore Capital Group reiterated a “buy” rating on shares of Softcat in a report on Thursday, March 19th. Jefferies Financial Group lowered their target price on Softcat from GBX 1,500 to GBX 1,210 and set a “hold” rating on the stock in a report on Thursday, March 19th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 1,900 target price on shares of Softcat in a report on Thursday, March 19th. Seven equities 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 MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 1,908.89.

Softcat Stock Up 0.5%

The stock has a market capitalization of £2.70 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 11.51 and a beta of 0.53. The business has a fifty day moving average of GBX 1,271.48 and a 200 day moving average of GBX 1,344. The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38.

Softcat (LON:SCT) last released its quarterly earnings data 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%. As a group, equities analysts predict that Softcat plc will post 60.72 earnings per share for the current year.

Insider Buying and Selling

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

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.