Softcat (LON:SCT) Downgraded by Shore Capital

Shore Capital lowered shares of Softcat (LON:SCT) to a hold rating in a research note published on Wednesday morning, Marketbeat.com reports.

SCT has been the subject of a number of other reports. Jefferies Financial Group upped their price objective on Softcat from GBX 1,800 ($22.83) to GBX 1,950 ($24.74) and gave the stock a buy rating in a report on Wednesday, May 29th. Numis Securities restated a buy rating on shares of Softcat in a report on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of GBX 1,532.50 ($19.44).

Softcat Price Performance

SCT opened at GBX 1,817 ($23.05) on Wednesday. The stock has a 50-day moving average price of GBX 1,680.01 and a 200-day moving average price of GBX 1,538.28. Softcat has a 12-month low of GBX 1,150 ($14.59) and a 12-month high of GBX 1,855 ($23.53). The company has a current ratio of 1.59, a quick ratio of 1.38 and a debt-to-equity ratio of 3.57. The stock has a market capitalization of £3.63 billion, a P/E ratio of 3,244.64, a PEG ratio of 11.51 and a beta of 0.71.

Insiders Place Their Bets

In other Softcat news, insider Graham Charlton sold 35,000 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of GBX 1,583 ($20.08), for a total value of £554,050 ($702,841.56). Company insiders own 37.87% 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.