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

Softcat plc (LON:SCT - Get Free Report) crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 1,577.59 ($20.98) and traded as low as GBX 1,529 ($20.34). Softcat shares last traded at GBX 1,582.59 ($21.05), with a volume of 156,153 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on Softcat from GBX 1,450 ($19.29) to GBX 1,759 ($23.40) and gave the company a "neutral" rating in a research note on Thursday, March 20th. Berenberg Bank restated a "hold" rating and issued a GBX 1,600 ($21.28) price objective on shares of Softcat in a research note on Wednesday, March 19th. Finally, Shore Capital reiterated a "buy" rating on shares of Softcat in a research report on Wednesday, March 19th.

Softcat Trading Down 0.9 %

The firm has a 50-day simple moving average of GBX 1,575.97 and a 200-day simple moving average of GBX 1,573.22. The company has a quick ratio of 1.38, a current ratio of 1.60 and a debt-to-equity ratio of 3.48. The stock has a market cap of £3.15 billion, a PE ratio of 26.52, a P/E/G ratio of 11.51 and a beta of 0.71.

Softcat (LON:SCT - Get Free Report) last issued its quarterly earnings data on Wednesday, March 19th. The company reported GBX 28.70 ($0.38) earnings per share (EPS) for the quarter. Softcat had a return on equity of 43.79% and a net margin of 12.37%. Equities analysts forecast that Softcat plc will post 60.72 earnings per share for the current year.

Softcat Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, May 21st. Investors of record on Thursday, April 10th will be paid a dividend of GBX 8.90 ($0.12) per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a yield of 0.53%. Softcat's dividend payout ratio is currently 43.53%.

Insider Buying and Selling

In other Softcat news, insider Jacqui Ferguson acquired 3,038 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was bought at an average price of GBX 1,470 ($19.55) per share, with a total value of £44,658.60 ($59,402.23). In the last 90 days, insiders have bought 3,057 shares of company stock valued at $4,495,658. Company insiders own 43.60% of the company's stock.

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.