Berenberg Bank Boosts Softcat (LON:SCT) Price Target to GBX 2,400

Softcat (LON:SCT) had its price objective increased by equities research analysts at Berenberg Bank from GBX 1,950 to GBX 2,400 in a note issued to investors on Monday, Digital Look reports. The brokerage presently has a “buy” rating on the stock. Berenberg Bank’s target price would indicate a potential upside of 25.26% from the stock’s current price.

Other analysts have also recently issued reports about the company. JPMorgan Chase & Co. boosted their price objective on Softcat from GBX 1,950 to GBX 2,300 and gave the company an “overweight” rating in a research report on Monday, September 7th. Deutsche Bank Aktiengesellschaft lowered Softcat to a “hold” rating and increased their target price for the company from GBX 1,800 to GBX 2,140 in a research report on Wednesday, August 26th. Royal Bank Of Canada cut shares of Softcat to a “neutral” rating and lifted their price target for the company from GBX 1,550 to GBX 1,950 in a research note on Monday, June 15th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 1,700 price objective on shares of Softcat in a research report on Thursday, June 25th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of GBX 1,993.75.

Softcat Price Performance

Shares of Softcat stock opened at GBX 1,916 on Monday. The firm has a market cap of £3.76 billion, a PE ratio of 27.33, a P/E/G ratio of 11.51 and a beta of 0.57. Softcat has a twelve month low of GBX 1,083 and a twelve month high of GBX 2,134. The company has a quick ratio of 1.38, a current ratio of 1.25 and a debt-to-equity ratio of 13.07. The business has a 50-day moving average price of GBX 1,963.90 and a 200 day moving average price of GBX 1,665.88.

Insider Transactions at Softcat

In related news, insider Kathryn Mecklenburgh purchased 176 shares of the company’s stock in a transaction dated Monday, September 7th. The stock was acquired at an average cost of GBX 2,045 per share, for a total transaction of £3,599.20. Also, insider Graham Charlton purchased 176 shares of the business’s stock in a transaction that occurred on Monday, September 7th. The stock was bought at an average cost of GBX 2,045 per share, with a total value of £3,599.20. In the last quarter, insiders acquired 382 shares of company stock valued at $778,745. 2.90% of the stock is owned by 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.