Softcat (LON:SCT) Reaches New 1-Year High – Still a Buy?

Shares of Softcat plc (LON:SCT) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as GBX 2,060 and last traded at GBX 2,030.44, with a volume of 9990 shares. The stock had previously closed at GBX 2,036.

Analyst Ratings Changes

Several analysts have weighed in on the company. Royal Bank Of Canada cut Softcat to a “neutral” rating and lifted their price objective for the company from GBX 1,550 to GBX 1,950 in a research report on Monday, June 15th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 1,700 target price on shares of Softcat in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft raised their target price on Softcat from GBX 1,700 to GBX 1,800 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Berenberg Bank lifted their price target on Softcat from GBX 1,900 to GBX 1,950 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Softcat has a consensus rating of “Moderate Buy” and an average price target of GBX 1,976.25.

Softcat Stock Down 0.1%

The stock’s 50 day simple moving average is GBX 1,896.40 and its two-hundred day simple moving average is GBX 1,530.38. The firm has a market cap of £3.99 billion, a P/E ratio of 29.02, a P/E/G ratio of 11.51 and a beta of 0.57. The company has a debt-to-equity ratio of 13.07, a current ratio of 1.25 and a quick ratio of 1.38.

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.