Softcat (LON:SCT) Hits New 52-Week High – Should You Buy?

Softcat plc (LON:SCT)’s stock price hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 2,046 and last traded at GBX 2,040.09, with a volume of 71670 shares trading hands. The stock had previously closed at GBX 2,008.

Analysts Set New Price Targets

SCT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Softcat from GBX 1,700 to GBX 1,800 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Royal Bank Of Canada cut Softcat to a “neutral” rating and lifted their price objective for the stock from GBX 1,550 to GBX 1,950 in a report on Monday, June 15th. Jefferies Financial Group reissued a “hold” rating and issued a GBX 1,700 price objective on shares of Softcat in a research note on Thursday, June 25th. Finally, Berenberg Bank raised their price objective on Softcat from GBX 1,900 to GBX 1,950 and gave the company a “buy” rating in a report on Tuesday, May 26th. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 1,974.44.

Softcat Trading Up 1.9%

The company has a market capitalization of £4.02 billion, a PE ratio of 29.19, a PEG ratio of 11.51 and a beta of 0.57. The company has a fifty day simple moving average of GBX 1,884.78 and a 200-day simple moving average of GBX 1,513.16. The company has a current ratio of 1.25, a quick ratio of 1.38 and a debt-to-equity ratio of 13.07.

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. 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.