Softcat (LON:SCT) Sets New 12-Month High – Should You Buy?

Softcat plc (LON:SCT) hit a new 52-week high on Friday . The company traded as high as GBX 2,002.43 and last traded at GBX 2,000, with a volume of 104349 shares. The stock had previously closed at GBX 1,992.

Wall Street Analyst Weigh In

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

Softcat Price Performance

The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38. The firm has a market capitalization of £3.89 billion, a price-to-earnings ratio of 28.26, a PEG ratio of 11.51 and a beta of 0.58. The business’s fifty day simple moving average is GBX 1,869.32 and its 200 day simple moving average is GBX 1,492.54.

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.