Softcat (LON:SCT) Sets New 52-Week Low – Here’s What Happened

Shares of Softcat plc (LON:SCT) reached a new 52-week low during trading on Monday . The stock traded as low as GBX 1,106 and last traded at GBX 1,113.45, with a volume of 27684 shares trading hands. The stock had previously closed at GBX 1,133.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SCT. JPMorgan Chase & Co. upgraded shares of Softcat to an “overweight” rating and lifted their price target for the stock from GBX 2,820 to GBX 2,950 in a research report on Thursday, December 4th. Peel Hunt restated a “buy” rating and issued a GBX 2,135 target price on shares of Softcat in a report on Tuesday, November 18th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of GBX 1,902.22.

Softcat Trading Down 1.7%

The company’s 50-day moving average is GBX 1,357.14 and its 200 day moving average is GBX 1,477.21. The company has a current ratio of 1.60, a quick ratio of 1.38 and a debt-to-equity ratio of 3.48. The firm has a market cap of £2.20 billion, a PE ratio of 16.82, a P/E/G ratio of 11.51 and a beta of 0.71.

Insiders Place Their Bets

In other news, insider Graham Charlton sold 15,919 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of GBX 1,456, for a total value of £231,780.64. Also, insider Graeme Watt sold 20,213 shares of Softcat stock in a transaction on Thursday, December 11th. The shares were sold at an average price of GBX 1,429, for a total value of £288,843.77. In the last 90 days, insiders bought 47 shares of company stock valued at $59,452 and sold 46,069 shares valued at $66,262,414. 2.87% of the stock is 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.