Berenberg Bank Issues Positive Forecast for Softcat (LON:SCT) Stock Price

Softcat (LON:SCT) had its price target boosted by Berenberg Bank from GBX 1,950 to GBX 2,400 in a research note released on Monday morning,Digital Look reports. Berenberg Bank currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Jefferies Financial Group reissued a “hold” rating and issued a GBX 1,700 target price on shares of Softcat in a report on Thursday, June 25th. Royal Bank Of Canada downgraded Softcat to a “neutral” rating and raised their price target for the stock from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. JPMorgan Chase & Co. raised their price target on Softcat from GBX 1,950 to GBX 2,300 and gave the stock an “overweight” rating in a report on Monday, September 7th. Finally, Deutsche Bank Aktiengesellschaft lowered Softcat to a “hold” rating and boosted their price objective for the company from GBX 1,800 to GBX 2,140 in a research report on Wednesday, August 26th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Softcat has a consensus rating of “Hold” and a consensus target price of GBX 1,993.75.

Softcat Price Performance

Shares of LON:SCT opened at GBX 1,925.50 on Monday. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 13.07. Softcat has a fifty-two week low of GBX 1,083 and a fifty-two week high of GBX 2,134. The firm has a 50-day simple moving average of GBX 1,963.88 and a 200 day simple moving average of GBX 1,660.41. The company has a market cap of £3.78 billion, a PE ratio of 27.47, a P/E/G ratio of 11.51 and a beta of 0.57.

Insider Transactions at Softcat

In related news, insider Graham Charlton bought 176 shares of the stock in a transaction on Monday, September 7th. The shares were purchased at an average price of GBX 2,045 per share, with a total value of £3,599.20. Also, insider Kathryn Mecklenburgh bought 176 shares of the stock in a transaction on Monday, September 7th. The shares were bought at an average cost of GBX 2,045 per share, for a total transaction of £3,599.20. Insiders purchased a total of 382 shares of company stock valued at $778,745 in the last quarter. 2.90% 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.