Softcat (LON:SCT) Reaches New 1-Year High – What’s Next?

Shares of Softcat plc (LON:SCT) hit a new 52-week high on Wednesday . The company traded as high as GBX 2,084 and last traded at GBX 2,082, with a volume of 231433 shares. The stock had previously closed at GBX 2,054.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SCT shares. Berenberg Bank upped their price objective 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. Royal Bank Of Canada cut shares of Softcat to a “neutral” rating and lifted their target price for the stock from GBX 1,550 to GBX 1,950 in a research note on Monday, June 15th. Deutsche Bank Aktiengesellschaft lowered shares of Softcat to a “hold” rating and upped their price target for the company from GBX 1,800 to GBX 2,140 in a research note on Wednesday. Finally, 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. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Softcat has a consensus rating of “Hold” and an average price target of GBX 2,018.75.

Softcat Stock Performance

The company has a debt-to-equity ratio of 13.07, a quick ratio of 1.38 and a current ratio of 1.25. The firm’s 50 day simple moving average is GBX 1,928.79 and its 200 day simple moving average is GBX 1,561.03. The firm has a market capitalization of £4.18 billion, a price-to-earnings ratio of 30.39, a PEG ratio of 11.51 and a beta of 0.57.

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.