Softcat’s (SCT) “Buy” Rating Reaffirmed at Berenberg Bank

Softcat (LON:SCT)‘s stock had its “buy” rating restated by analysts at Berenberg Bank in a research report issued to clients and investors on Friday, October 16th, Digital Look reports. They currently have a GBX 2,400 price objective on the stock. Berenberg Bank‘s target price points to a potential upside of 44.32% from the stock’s current price.

Several other analysts have also recently commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Softcat to a “hold” rating and increased their price target for the company from GBX 1,800 to GBX 2,140 in a research note on Wednesday, August 26th. Jefferies Financial Group restated a “hold” rating and issued a GBX 1,700 price objective on shares of Softcat in a research report on Wednesday, October 14th. Finally, JPMorgan Chase & Co. upped their price objective on Softcat from GBX 1,950 to GBX 2,300 and gave the stock an “overweight” rating in a report on Monday, September 7th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Softcat presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,104.17.

Softcat Price Performance

Shares of Softcat stock traded up GBX 20 during trading on Friday, reaching GBX 1,663. The company’s stock had a trading volume of 30,436,020 shares, compared to its average volume of 1,900,500. The stock has a 50-day moving average price of GBX 1,905.56 and a two-hundred day moving average price of GBX 1,759.30. The company has a current ratio of 1.39, a quick ratio of 1.38 and a debt-to-equity ratio of 10.41. Softcat has a one year low of GBX 1,083 and a one year high of GBX 2,134. The stock has a market capitalization of £3.58 billion, a P/E ratio of 23.72, a price-to-earnings-growth ratio of 11.51 and a beta of 0.58.

Softcat (LON:SCT) last issued its quarterly earnings results on Wednesday, October 14th. The company reported GBX 75.80 earnings per share (EPS) for the quarter. Softcat had a net margin of 7.61% and a return on equity of 46.24%. As a group, sell-side analysts anticipate that Softcat will post 60.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Softcat news, insider Graeme Watt bought 5,291 shares of Softcat stock in a transaction on Friday, October 16th. The shares were purchased at an average cost of GBX 1,890 per share, for a total transaction of £99,999.90. Also, insider Graham Charlton bought 529 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was acquired at an average cost of GBX 1,890 per share, with a total value of £9,998.10. Insiders have purchased 12,816 shares of company stock worth $24,246,219 over the last 90 days. 2.91% of the stock is currently owned by corporate insiders.

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.