Softcat (LON:SCT) Reaches New 1-Year High – Here’s Why

Shares of Softcat plc (LON:SCT) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as GBX 1,978 and last traded at GBX 1,976, with a volume of 360262 shares changing hands. The stock had previously closed at GBX 1,930.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SCT shares. Berenberg Bank increased their price objective on Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Royal Bank Of Canada lowered Softcat to a “neutral” rating and boosted their target price for the company from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. Jefferies Financial Group restated a “hold” rating and set a GBX 1,700 price target on shares of Softcat in a research note on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Softcat from GBX 1,700 to GBX 1,800 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Softcat presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 1,974.44.

Softcat Price Performance

The company has a 50-day simple moving average of GBX 1,805.34 and a 200-day simple moving average of GBX 1,464.18. The stock has a market cap of £3.86 billion, a PE ratio of 28.02, a PEG ratio of 11.51 and a beta of 0.58. The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38.

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.