Softcat (LON:SCT) Hits New 52-Week High – Time to Buy?

Shares of Softcat plc (LON:SCT) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 2,060 and last traded at GBX 2,030.44, with a volume of 9990 shares traded. The stock had previously closed at GBX 2,036.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SCT. Jefferies Financial Group reissued a “hold” rating and issued a GBX 1,700 price target on shares of Softcat in a research note on Thursday, June 25th. Royal Bank Of Canada cut shares of Softcat to a “neutral” rating and lifted their price objective for the company from GBX 1,550 to GBX 1,950 in a research note on Monday, June 15th. Berenberg Bank upped their price objective on shares of Softcat from GBX 1,900 to GBX 1,950 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Softcat from GBX 1,700 to GBX 1,800 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Five 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.com, Softcat presently has an average rating of “Moderate Buy” and a consensus price target of GBX 1,976.25.

Softcat Stock Up 0.2%

The firm has a market cap of £4.01 billion, a price-to-earnings ratio of 29.16, a price-to-earnings-growth ratio of 11.51 and a beta of 0.57. The stock’s 50 day moving average is GBX 1,906.06 and its 200 day moving average is GBX 1,538.28. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 13.07.

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.