Softcat (LON:SCT) Shares Up 1.5% - Here's What Happened

Key Points

• Softcat plc shares increased by 1.5% to close at GBX 1,579 ($21.23) after trading around 690,847 shares, which is a 9% decline from its average volume.
• Brokerage ratings vary, with Shore Capital setting a buy rating with a price target of GBX 1,950, while Citigroup reduced their target from GBX 2,000 to GBX 1,960, maintaining a buy rating.
• The company has a market cap of £3.15 billion and displays healthy liquidity metrics, including a quick ratio of 1.38 and a current ratio of 1.60.

Shares of Softcat plc (LON:SCT - Get Free Report) rose 1.5% on Thursday . The stock traded as high as GBX 1,582 ($21.27) and last traded at GBX 1,579 ($21.23). Approximately 690,847 shares changed hands during trading, a decline of 9% from the average daily volume of 759,279 shares. The stock had previously closed at GBX 1,555 ($20.90).

Analysts Set New Price Targets

Several brokerages have commented on SCT. JPMorgan Chase & Co. reiterated a "neutral" rating on shares of Softcat in a research report on Thursday, September 11th. Shore Capital reaffirmed a "buy" rating and issued a GBX 1,950 price objective on shares of Softcat in a research note on Thursday, August 28th. Liberum Capital upgraded shares of Softcat to a "buy" rating and set a GBX 1,800 target price on the stock in a report on Thursday, July 24th. Finally, Citigroup reduced their target price on shares of Softcat from GBX 2,000 to GBX 1,960 and set a "buy" rating for the company in a report on Tuesday, August 19th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Softcat currently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,813.80.

Softcat Stock Up 1.5%

The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.38 and a current ratio of 1.60. The stock has a market cap of £3.15 billion, a price-to-earnings ratio of 2,526.40, a price-to-earnings-growth ratio of 11.51 and a beta of 0.71. The business's 50 day moving average is GBX 1,585.70 and its 200 day moving average is GBX 1,658.07.

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.

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