Softcat (LON:SCT) Share Price Passes Above 50-Day Moving Average – What’s Next?

Softcat plc (LON:SCT) shares passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 1,271.48 and traded as high as GBX 1,375. Softcat shares last traded at GBX 1,374, with a volume of 1,124,535 shares changing hands.

Analyst Ratings Changes

SCT has been the topic of a number of recent analyst reports. Jefferies Financial Group decreased their price objective on Softcat from GBX 1,500 to GBX 1,210 and set a “hold” rating on the stock in a report on Thursday, March 19th. Berenberg Bank reiterated a “buy” rating and issued a GBX 1,900 price objective on shares of Softcat in a report on Thursday, March 19th. Finally, Shore Capital Group reiterated a “buy” rating on shares of Softcat in a report on Thursday, March 19th. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,908.89.

Softcat Trading Up 0.5%

The company has a market cap of £2.70 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 11.51 and a beta of 0.53. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 13.07. The business has a 50-day simple moving average of GBX 1,271.48 and a 200-day simple moving average of GBX 1,344.

Softcat (LON:SCT) last announced its earnings results on Wednesday, March 18th. The company reported GBX 36.10 earnings per share (EPS) for the quarter. Softcat had a return on equity of 45.16% and a net margin of 8.06%. On average, analysts predict that Softcat plc will post 60.72 EPS for the current fiscal year.

Insider Transactions at Softcat

In other news, insider Kathryn Mecklenburgh bought 7,352 shares of the business’s stock in a transaction on Monday, April 27th. The shares were bought at an average price of GBX 1,365 per share, with a total value of £100,354.80. Insiders purchased a total of 31,834 shares of company stock valued at $42,647,394 over the last 90 days. 2.89% of the stock is owned by insiders.

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.