Softcat plc (LON:SCT)’s stock price reached a new 52-week high on Tuesday after Berenberg Bank raised their price target on the stock from GBX 1,200 to GBX 1,750. Berenberg Bank currently has a hold rating on the stock. Softcat traded as high as GBX 1,952 ($25.50) and last traded at GBX 1,950 ($25.48), with a volume of 221467 shares. The stock had previously closed at GBX 1,945 ($25.41).
SCT has been the subject of a number of other reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell reiterated a “neutral” rating on shares of Softcat in a report on Monday, March 22nd. Morgan Stanley assumed coverage on shares of Softcat in a report on Tuesday, March 9th. They issued an “overweight” rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of GBX 1,255.67 ($16.41).
In other news, insider Martin Hellawell sold 111,000 shares of the company’s stock in a transaction dated Tuesday, January 26th. The shares were sold at an average price of GBX 1,526 ($19.94), for a total transaction of £1,693,860 ($2,213,038.93). Also, insider Graeme Watt sold 31,585 shares of the company’s stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of GBX 1,873 ($24.47), for a total transaction of £591,587.05 ($772,912.27).
The business also recently disclosed a dividend, which will be paid on Friday, May 14th. Stockholders of record on Wednesday, March 31st will be issued a dividend of GBX 6.40 ($0.08) per share. The ex-dividend date is Wednesday, March 31st. This represents a dividend yield of 0.36%. Softcat’s dividend payout ratio (DPR) is currently 0.37%.
About Softcat (LON:SCT)
Softcat plc primarily acts 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.
Further Reading: Dividend Yield
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