Softcat (LON:SCT) Stock Rating Reaffirmed as "Hold" by Jefferies Financial Group

Key Points

• Jefferies reaffirmed its “Hold” rating on Softcat and maintained a GBX 1,700 price target, implying approximately 4.76% downside from the current price.
• Analyst sentiment is mixed: Softcat has a consensus “Hold” rating from four Buy, three Hold, and one Sell recommendations, with an average price target of GBX 1,993.75.
• Softcat shares opened at GBX 1,785, compared with a 52-week range of GBX 1,083 to GBX 2,134; insiders have also purchased shares recently, and company insiders own 2.91% of the stock.

Softcat (LON:SCT - Get Free Report)'s stock had its "hold" rating reissued by equities researchers at Jefferies Financial Group in a research note issued to investors on Wednesday, Digital Look reports. They presently have a GBX 1,700 price objective on the stock. Jefferies Financial Group's price objective would indicate a potential downside of 4.76% from the company's current price.

A number of other research analysts have also recently commented on SCT. JPMorgan Chase & Co. increased their price target on shares of Softcat from GBX 1,950 to GBX 2,300 and gave the company an "overweight" rating in a research report on Monday, September 7th. Deutsche Bank Aktiengesellschaft lowered Softcat to a "hold" rating and lifted their price objective for the stock from GBX 1,800 to GBX 2,140 in a research report on Wednesday, August 26th. Finally, Berenberg Bank lifted their target price on shares of Softcat from GBX 1,950 to GBX 2,400 and gave the company a "buy" rating in a research note on Monday, September 21st. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of GBX 1,993.75.

Softcat Price Performance

SCT stock opened at GBX 1,785 on Wednesday. Softcat has a one year low of GBX 1,083 and a one year high of GBX 2,134. The firm has a 50 day simple moving average of GBX 1,943.73 and a two-hundred day simple moving average of GBX 1,734.73. The stock has a market cap of £3.84 billion, a PE ratio of 25.46, a P/E/G ratio of 11.51 and a beta of 0.58. The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38.

Insider Activity

In other Softcat news, insider Kathryn Mecklenburgh purchased 176 shares of the stock in a transaction dated Monday, September 7th. The shares were purchased at an average cost of GBX 2,045 per share, with a total value of £3,599.20. Also, insider Graham Charlton bought 176 shares of the stock in a transaction on Monday, September 7th. The shares were bought at an average price of GBX 2,045 per share, for a total transaction of £3,599.20. Insiders acquired 384 shares of company stock valued at $749,739 over the last ninety days. Corporate insiders own 2.91% 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.

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