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

Key Points

• Berenberg Bank raised Softcat’s price target to GBX 2,400 from GBX 1,950 and maintained a “buy” rating, implying approximately 24% potential upside.
• Analyst opinion remains mixed: four analysts rate Softcat a buy, three a hold and one a sell, resulting in a consensus “hold” rating and average target price of GBX 1,993.75.
• Softcat shares opened at GBX 1,935, with a market capitalization of approximately £3.80 billion; insiders have purchased 382 shares worth about £778,745 over the past 90 days.

Softcat (LON:SCT - Get Free Report) had its price target increased by research analysts at Berenberg Bank from GBX 1,950 to GBX 2,400 in a research note issued to investors on Monday, Digital Look reports. The firm presently has a "buy" rating on the stock. Berenberg Bank's price objective points to a potential upside of 24.03% from the company's current price.

SCT has been the topic of several other reports. Jefferies Financial Group reiterated a "hold" rating and set a GBX 1,700 target price on shares of Softcat in a report on Thursday, June 25th. Royal Bank Of Canada lowered shares of Softcat to a "neutral" rating and boosted their price target for the company from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. JPMorgan Chase & Co. increased their price objective on shares of Softcat from GBX 1,950 to GBX 2,300 and gave the company an "overweight" rating in a research note on Monday, September 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Softcat to a "hold" rating and increased their price objective for the company from GBX 1,800 to GBX 2,140 in a research note on Wednesday, August 26th. Four research 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of GBX 1,993.75.

Softcat Price Performance

Shares of SCT stock opened at GBX 1,935 on Monday. Softcat has a twelve month low of GBX 1,083 and a twelve month high of GBX 2,134. The company has a current ratio of 1.25, a quick ratio of 1.38 and a debt-to-equity ratio of 13.07. The stock has a fifty day simple moving average of GBX 1,963.59 and a two-hundred day simple moving average of GBX 1,654.73. The stock has a market capitalization of £3.80 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 11.51 and a beta of 0.57.

Insider Activity

In other Softcat news, insider Graham Charlton purchased 176 shares of the stock in a transaction on Monday, September 7th. The stock was acquired at an average price of GBX 2,045 per share, with a total value of £3,599.20. Also, insider Kathryn Mecklenburgh purchased 176 shares of the stock in a transaction on Monday, September 7th. The stock was acquired at an average cost of GBX 2,045 per share, with a total value of £3,599.20. Insiders have purchased a total of 382 shares of company stock worth $778,745 over the last ninety days. 2.90% of the stock is currently owned by corporate 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.

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