Computacenter (LON:CCC) Shares Break Above Two Hundred Day Moving Average – Here’s What Happened

Computacenter plc (LON:CCC)’s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 4,330.01 and traded as high as GBX 5,575. Computacenter shares last traded at GBX 5,405, with a volume of 199,343 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CCC shares. Jefferies Financial Group reissued a “buy” rating and set a GBX 6,500 price target on shares of Computacenter in a research report on Tuesday, September 8th. Berenberg Bank boosted their price objective on shares of Computacenter from GBX 5,300 to GBX 6,500 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Computacenter from GBX 5,000 to GBX 6,000 and gave the company an “overweight” rating in a research report on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of GBX 5,675.

Computacenter Stock Down 1.2%

The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 20.49. The company has a market capitalization of £5.67 billion, a price-to-earnings ratio of 37.15, a price-to-earnings-growth ratio of 6.99 and a beta of 0.95. The firm’s 50 day moving average price is GBX 5,167.76 and its two-hundred day moving average price is GBX 4,330.01.

Computacenter (LON:CCC) last posted its earnings results on Tuesday, September 8th. The company reported GBX 103 earnings per share for the quarter. Computacenter had a return on equity of 21.78% and a net margin of 1.70%. Sell-side analysts anticipate that Computacenter plc will post 187.5 earnings per share for the current fiscal year.

Insider Activity at Computacenter

In related news, insider Kelly Kuhn acquired 1,035 shares of the business’s stock in a transaction on Friday, July 24th. The stock was purchased at an average cost of GBX 4,836 per share, for a total transaction of £50,052.60. Also, insider Keith Mortimer sold 181 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of GBX 4,608, for a total value of £8,340.48. Company insiders own 43.80% of the company’s stock.

About Computacenter

Computacenter is a leading independent technology and services provider, trusted by large corporate and public sector organisations.

We are a responsible business that believes in winning together for our people and our planet. We help our customers to Source, Transform and Manage their technology infrastructure to deliver digital transformation, enabling people and their business.

Computacenter is a public company quoted on the London FTSE 250 (CCC.L) and employs over 20,000 people worldwide.