Softcat (LON:SCT) Share Price Crosses Below 50-Day Moving Average - Here's Why

Key Points

• Softcat shares fell below their 50-day moving average, reaching GBX 1,825 before closing at GBX 1,904, below the GBX 1,944.16 average.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of GBX 1,993.75. Recent targets range from GBX 1,700 at Jefferies to GBX 2,400 at Berenberg.
• Insiders recently bought shares, including purchases by Graham Charlton and Kathryn Mecklenburgh at GBX 2,045 per share; insiders own 2.91% of the company.

Softcat plc (LON:SCT - Get Free Report) passed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of GBX 1,944.16 and traded as low as GBX 1,825. Softcat shares last traded at GBX 1,904, with a volume of 321,179 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SCT shares. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 1,700 price objective on shares of Softcat in a research report on Thursday, June 25th. Royal Bank Of Canada lowered Softcat to a "neutral" rating and increased their price objective for the company from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. JPMorgan Chase & Co. raised their price objective on Softcat from GBX 1,950 to GBX 2,300 and gave the company an "overweight" rating in a research note on Monday, September 7th. Berenberg Bank boosted their price objective on shares of Softcat from GBX 1,950 to GBX 2,400 and gave the stock a "buy" rating in a research note on Monday, September 21st. Finally, Deutsche Bank Aktiengesellschaft downgraded Softcat to a "hold" rating and raised their price target for the company from GBX 1,800 to GBX 2,140 in a research report on Wednesday, August 26th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of GBX 1,993.75.

Softcat Price Performance

The business's fifty day moving average price is GBX 1,944.16 and its 200 day moving average price is GBX 1,729.63. The company has a market capitalization of £4.10 billion, a P/E ratio of 27.16, a P/E/G ratio of 11.51 and a beta of 0.58. The company has a current ratio of 1.25, a quick ratio of 1.38 and a debt-to-equity ratio of 13.07.

Insider Transactions at Softcat

In other news, insider Graham Charlton bought 176 shares of Softcat stock in a transaction dated 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. Also, insider Kathryn Mecklenburgh acquired 176 shares of the firm's stock in a transaction on Monday, September 7th. The shares were purchased at an average cost of GBX 2,045 per share, for a total transaction of £3,599.20. In the last three months, insiders purchased 384 shares of company stock worth $749,739. 2.91% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.