Computacenter (LON:CCC) Stock Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Computacenter shares rose above their 200-day moving average, reaching GBX 5,095 before last trading at GBX 4,929.11, although the stock was reported down 1.9% and below its 50-day average.
• Analysts remain bullish: Jefferies and Berenberg maintained or issued “buy” ratings with GBX 6,500 targets, while JPMorgan raised its target to GBX 6,000. The consensus rating is “Buy,” with an average target of GBX 5,675.
• The company reported quarterly EPS of GBX 103 and is expected to deliver GBX 187.50 in EPS for the current fiscal year. Insiders own 43.8% of the stock; one insider recently bought shares while another sold a small holding.

Computacenter plc (LON:CCC - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of GBX 4,545.91 and traded as high as GBX 5,095. Computacenter shares last traded at GBX 4,929.11, with a volume of 321,470 shares.

Wall Street Analysts Forecast Growth

CCC has been the subject of a number of recent research reports. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 6,500 target price on shares of Computacenter in a research note on Tuesday, September 8th. JPMorgan Chase & Co. upped their price target on Computacenter from GBX 5,000 to GBX 6,000 and gave the stock an "overweight" rating in a research note on Monday, September 7th. Finally, Berenberg Bank raised their price objective on shares of Computacenter from GBX 5,300 to GBX 6,500 and gave the company a "buy" rating in a research note on Wednesday, September 9th. Four analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of GBX 5,675.

Computacenter Trading Down 1.9%

The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 20.49. The stock has a market capitalization of £5.17 billion, a PE ratio of 25.45, a PEG ratio of 6.99 and a beta of 0.95. The business's 50-day moving average is GBX 5,307.59 and its two-hundred day moving average is GBX 4,545.91.

Computacenter (LON:CCC - Get Free Report) last posted its earnings results on Tuesday, September 8th. The company reported GBX 103 EPS for the quarter. Computacenter had a return on equity of 21.78% and a net margin of 1.70%. On average, analysts anticipate that Computacenter plc will post 187.50 earnings per share for the current fiscal year.

Insider Buying and Selling at Computacenter

In related news, insider Kelly Kuhn acquired 1,035 shares of Computacenter stock in a transaction that occurred on Friday, July 24th. The stock was purchased at an average price of GBX 4,836 per share, for a total transaction of £50,052.60. Also, insider Keith Mortimer sold 181 shares of Computacenter stock in a transaction on Friday, July 31st. The stock was sold at an average price of GBX 4,608, for a total value of £8,340.48. Insiders own 43.80% of the company's stock.

About Computacenter

Computacenter is a leading independent technology and services provider, trusted by large corporate and public sector organisations. We are a responsible business that believes in winning together for our people and our planet. We help our customers to Source, Transform and Manage their technology infrastructure to deliver digital transformation, enabling people and their business. Computacenter is a public company quoted on the London FTSE 250 (CCC.L) and employs over 20,000 people worldwide.

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