Softcat (LON:SCT) Share Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Softcat shares moved above their 200-day moving average, reaching GBX 1,635 before last trading at GBX 1,614; the 200-day average was GBX 1,612.16.
• Analysts’ consensus was “Moderate Buy”, with an average price target of GBX 2,104.17; four analysts rated the stock Buy and three rated it Hold.
• Company insiders bought a combined 12,816 shares over the prior 90 days. Softcat reported quarterly EPS of GBX 75.80.

Shares of Softcat plc (LON:SCT - Get Free Report) crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of GBX 1,612.16 and traded as high as GBX 1,635. Softcat shares last traded at GBX 1,614, with a volume of 39,728,984 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SCT. Deutsche Bank Aktiengesellschaft cut shares of Softcat to a "hold" rating and increased their target price for the stock from GBX 1,800 to GBX 2,140 in a report on Wednesday, August 26th. Berenberg Bank reaffirmed a "buy" rating and set a GBX 2,400 price objective on shares of Softcat in a research report on Friday, October 16th. JPMorgan Chase & Co. boosted 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 report on Monday, September 7th. Finally, Jefferies Financial Group reiterated a "hold" rating and set a GBX 1,700 price objective on shares of Softcat in a research note on Wednesday, October 14th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,104.17.

Softcat Stock Performance

The stock has a market capitalization of £3.50 billion, a P/E ratio of 23.24, a P/E/G ratio of 11.51 and a beta of 0.60. The stock has a 50 day moving average of GBX 1,837.88 and a 200 day moving average of GBX 1,612.16. The company has a debt-to-equity ratio of 10.41, a quick ratio of 1.38 and a current ratio of 1.39.

Softcat (LON:SCT - Get Free Report) last posted its earnings results on Wednesday, October 14th. The company reported GBX 75.80 earnings per share (EPS) for the quarter. Softcat had a return on equity of 46.24% and a net margin of 7.61%. Equities analysts predict that Softcat plc will post 60.72 EPS for the current year.

Insider Buying and Selling

In other Softcat news, insider Graham Charlton acquired 529 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The stock was acquired at an average cost of GBX 1,890 per share, with a total value of £9,998.10. Also, insider Mayank Prakash acquired 2,645 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The stock was acquired at an average cost of GBX 1,890 per share, with a total value of £49,990.50. Insiders have acquired 12,816 shares of company stock valued at $24,246,219 in the last ninety days. 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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