Softcat (LON:SCT) Shares Pass Below Fifty Day Moving Average – Here’s What Happened

Softcat plc (LON:SCT)’s stock price crossed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 1,963.37 and traded as low as GBX 1,885. Softcat shares last traded at GBX 1,968, with a volume of 266,674 shares trading hands.

Analysts Set New Price Targets

SCT has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft lowered Softcat to a “hold” rating and lifted their price target for the stock from GBX 1,800 to GBX 2,140 in a report on Wednesday, August 26th. JPMorgan Chase & Co. upped their price objective on shares of Softcat from GBX 1,950 to GBX 2,300 and gave the company an “overweight” rating in a report on Monday, September 7th. Jefferies Financial Group restated a “hold” rating and set a GBX 1,700 price objective on shares of Softcat in a research report on Thursday, June 25th. Berenberg Bank lifted their target price on shares of Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada lowered shares of Softcat to a “neutral” rating and boosted their target price for the company from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of GBX 1,937.50.

Softcat Stock Down 3.7%

The business has a 50-day moving average of GBX 1,963.59 and a 200-day moving average of GBX 1,651.14. The company has a debt-to-equity ratio of 13.07, a quick ratio of 1.38 and a current ratio of 1.25. The stock has a market capitalization of £3.72 billion, a price-to-earnings ratio of 27.03, a P/E/G ratio of 11.51 and a beta of 0.57.

Insider Transactions at Softcat

In related news, insider Graham Charlton acquired 176 shares of the firm’s stock in a transaction dated Monday, September 7th. The shares were purchased at an average cost of GBX 2,045 per share, for a total transaction of £3,599.20. Also, insider Kathryn Mecklenburgh acquired 176 shares of the stock in a transaction that occurred on Monday, September 7th. The shares were bought at an average cost of GBX 2,045 per share, with a total value of £3,599.20. Over the last quarter, insiders have acquired 382 shares of company stock valued at $778,745. Company insiders own 2.90% 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.