Softcat plc (LON:SCT – Get Free Report) shares were down 8.5% during mid-day trading on Tuesday . The company traded as low as GBX 1,851 and last traded at GBX 1,867. 407,705 shares were traded during mid-day trading, a decline of 79% from the average session volume of 1,906,154 shares. The stock had previously closed at GBX 2,040.
Analysts Set New Price Targets
SCT has been the subject of several research analyst reports. 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. Deutsche Bank Aktiengesellschaft cut Softcat to a “hold” rating and lifted their target price for the company from GBX 1,800 to GBX 2,140 in a research note on Wednesday, August 26th. Berenberg Bank upped their target price on Softcat from GBX 1,900 to GBX 1,950 and gave the company a “buy” rating in a report on Tuesday, May 26th. Royal Bank Of Canada lowered shares of Softcat to a “neutral” rating and increased their price target for the stock from GBX 1,550 to GBX 1,950 in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Softcat from GBX 1,950 to GBX 2,300 and gave the stock an “overweight” rating in a report on Monday. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Softcat presently has an average rating of “Hold” and a consensus price target of GBX 1,937.50.
Read Our Latest Research Report on SCT
Softcat Trading Down 2.1%
Insider Activity
In other news, insider Graham Charlton bought 176 shares of the company’s stock in a transaction on Monday, September 7th. The shares were bought at an average cost of GBX 2,045 per share, with a total value of £3,599.20. Also, insider Kathryn Mecklenburgh purchased 176 shares of the business’s stock in a transaction dated Monday, September 7th. The shares were purchased at an average cost of GBX 2,045 per share, with a total value of £3,599.20. Over the last ninety days, insiders acquired 382 shares of company stock worth $778,745. Insiders own 2.90% of the company’s stock.
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.
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