Softcat (LON:SCT) Stock Price Crosses Above 50 Day Moving Average – Here’s What Happened

Softcat plc (LON:SCT) shares crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of GBX 1,576.45 ($20.40) and traded as high as GBX 1,645 ($21.29). Softcat shares last traded at GBX 1,610 ($20.84), with a volume of 690,702 shares traded.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SCT. Berenberg Bank reissued a “hold” rating and issued a GBX 1,600 ($20.71) price target on shares of Softcat in a research note on Wednesday, March 19th. Shore Capital reiterated a “buy” rating on shares of Softcat in a report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Softcat from GBX 1,450 ($18.77) to GBX 1,759 ($22.77) and gave the stock a “neutral” rating in a report on Thursday, March 20th.

Softcat Stock Down 1.7 %

The firm has a market cap of £3.20 billion, a price-to-earnings ratio of 26.95, a PEG ratio of 11.51 and a beta of 0.71. The firm has a 50 day moving average of GBX 1,576.45 and a 200 day moving average of GBX 1,568.53. The company has a quick ratio of 1.38, a current ratio of 1.60 and a debt-to-equity ratio of 3.48.

Softcat (LON:SCT) last released its quarterly earnings data on Wednesday, March 19th. The company reported GBX 28.70 ($0.37) earnings per share for the quarter. Softcat had a net margin of 12.37% and a return on equity of 43.79%. As a group, sell-side analysts predict that Softcat plc will post 60.72 earnings per share for the current year.

Softcat Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, May 21st. Stockholders of record on Thursday, April 10th will be given a dividend of GBX 8.90 ($0.12) per share. The ex-dividend date is Thursday, April 10th. This represents a dividend yield of 0.53%. Softcat’s dividend payout ratio (DPR) is presently 43.53%.

Insider Activity at Softcat

In other Softcat news, insider Jacqui Ferguson acquired 3,038 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were purchased at an average cost of GBX 1,470 ($19.03) per share, with a total value of £44,658.60 ($57,803.00). Also, insider Graham Charlton sold 15,380 shares of Softcat stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of GBX 1,489 ($19.27), for a total transaction of £229,008.20 ($296,412.37). Insiders bought 3,067 shares of company stock valued at $4,511,098 in the last three months. Corporate insiders own 43.60% of the company’s stock.

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.