Softcat (LON:SCT) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Softcat plc (LON:SCT)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,433.71 and traded as low as GBX 1,145. Softcat shares last traded at GBX 1,168, with a volume of 203,035 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upgraded shares of Softcat to an “overweight” rating and upped their price target for the company from GBX 2,820 to GBX 2,950 in a research note on Thursday, December 4th. Peel Hunt reiterated a “buy” rating and issued a GBX 2,135 price objective on shares of Softcat in a research note 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 given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of GBX 1,902.22.

Softcat Stock Up 1.0%

The stock has a 50-day moving average of GBX 1,272.27 and a 200-day moving average of GBX 1,433.71. The company has a debt-to-equity ratio of 10.39, a current ratio of 1.28 and a quick ratio of 1.38. The firm has a market cap of £2.29 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 11.51 and a beta of 0.62.

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.