Softcat plc (LON:SCT) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Softcat has a consensus analyst rating of “Moderate Buy” from 10 brokerages, with seven buy ratings, two holds, and one sell. The average 12-month price target is GBX 1,957.
• Recent analyst updates were mixed but generally constructive, including higher price targets from Berenberg Bank, Deutsche Bank, and Royal Bank of Canada, while Jefferies kept a hold rating.
• Softcat shares opened at GBX 1,847, near their 1-year high of GBX 1,977, and the company reported insider buying activity, including a purchase by Kathryn Mecklenburgh in April.

Shares of Softcat plc (LON:SCT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is GBX 1,957.

Several research analysts recently weighed in on SCT shares. Jefferies Financial Group restated a "hold" rating and set a GBX 1,700 price target on shares of Softcat in a report on Thursday, June 25th. Berenberg Bank increased their price objective on shares of Softcat from GBX 1,900 to GBX 1,950 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Softcat from GBX 1,700 to GBX 1,800 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. Finally, Royal Bank Of Canada downgraded Softcat to a "neutral" rating and boosted their target price for the stock from GBX 1,550 to GBX 1,950 in a research note on Monday, June 15th.

Softcat Price Performance

Shares of LON:SCT opened at GBX 1,847 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.38 and a debt-to-equity ratio of 13.07. The stock has a market cap of £3.63 billion, a PE ratio of 26.35, a price-to-earnings-growth ratio of 11.51 and a beta of 0.58. The stock's fifty day simple moving average is GBX 1,764.81 and its two-hundred day simple moving average is GBX 1,450.42. Softcat has a 1-year low of GBX 1,083 and a 1-year high of GBX 1,977.

Insider Buying and Selling

In other Softcat news, insider Kathryn Mecklenburgh acquired 7,352 shares of the business's stock in a transaction on Monday, April 27th. The shares were acquired at an average price of GBX 1,365 per share, with a total value of £100,354.80. Insiders acquired 31,865 shares of company stock worth $42,706,786 in the last 90 days. Company insiders own 2.90% 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. 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.