Softcat (LON:SCT) Stock Passes Below Fifty Day Moving Average – Here’s What Happened

Softcat plc (LON:SCT)’s stock price passed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of GBX 1,577.59 ($20.88) and traded as low as GBX 1,529 ($20.24). Softcat shares last traded at GBX 1,582.59 ($20.94), with a volume of 156,153 shares trading hands.

Analyst Ratings Changes

SCT has been the subject of a number of analyst reports. Berenberg Bank reissued a “hold” rating and issued a GBX 1,600 ($21.18) price target on shares of Softcat in a report on Wednesday, March 19th. Shore Capital restated a “buy” rating on shares of Softcat in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Softcat from GBX 1,450 ($19.19) to GBX 1,759 ($23.28) and gave the stock a “neutral” rating in a report on Thursday, March 20th.

Softcat Price Performance

The company has a debt-to-equity ratio of 3.48, a quick ratio of 1.38 and a current ratio of 1.60. The business’s fifty day simple moving average is GBX 1,577.59 and its 200 day simple moving average is GBX 1,572.54. The stock has a market cap of £3.15 billion, a price-to-earnings ratio of 26.50, a price-to-earnings-growth ratio of 11.51 and a beta of 0.71.

Softcat (LON:SCT) last posted its quarterly earnings data on Wednesday, March 19th. The company reported GBX 28.70 ($0.38) EPS for the quarter. Softcat had a net margin of 12.37% and a return on equity of 43.79%. Research analysts predict that Softcat plc will post 60.72 EPS for the current fiscal year.

Softcat Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Thursday, April 10th will be paid a dividend of GBX 8.90 ($0.12) per share. This represents a dividend yield of 0.53%. The ex-dividend date is Thursday, April 10th. Softcat’s dividend payout ratio (DPR) is currently 43.53%.

Insider Transactions at Softcat

In related news, insider Graham Charlton sold 15,380 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of GBX 1,489 ($19.71), for a total transaction of £229,008.20 ($303,081.26). Also, insider Jacqui Ferguson purchased 3,038 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was bought at an average price of GBX 1,470 ($19.45) per share, for a total transaction of £44,658.60 ($59,103.49). Insiders have acquired a total of 3,057 shares of company stock worth $4,495,658 in the last 90 days. 43.60% of the stock is owned by insiders.

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.