Softcat (LON:SCT) Price Target Raised to GBX 1,759

Softcat (LON:SCT) had its price target increased by JPMorgan Chase & Co. from GBX 1,450 ($18.72) to GBX 1,759 ($22.71) in a research report report published on Thursday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Separately, Shore Capital reissued a “buy” rating on shares of Softcat in a research report on Wednesday.

Softcat Stock Down 1.6 %

Shares of LON SCT opened at GBX 1,647 ($21.27) on Thursday. The firm’s 50-day moving average is GBX 1,560.13 and its 200-day moving average is GBX 1,564.59. The firm has a market capitalization of £3.28 billion, a PE ratio of 27.57, a price-to-earnings-growth ratio of 11.51 and a beta of 0.71. The company has a current ratio of 1.60, a quick ratio of 1.38 and a debt-to-equity ratio of 3.48. Softcat has a 1 year low of GBX 1,415 ($18.27) and a 1 year high of GBX 1,855 ($23.95).

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

Softcat Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 21st. Investors of record on Thursday, April 10th will be issued a dividend of GBX 8.90 ($0.11) per share. This represents a dividend yield of 0.53%. The ex-dividend date of this dividend is Thursday, April 10th. Softcat’s dividend payout ratio is currently 43.53%.

Insider Buying and Selling

In related news, insider Jacqui Ferguson purchased 3,038 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was acquired at an average cost of GBX 1,470 ($18.98) per share, for a total transaction of £44,658.60 ($57,661.20). Also, insider Graham Charlton sold 15,380 shares of Softcat stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of GBX 1,489 ($19.23), for a total transaction of £229,008.20 ($295,685.22). Over the last three months, insiders purchased 3,067 shares of company stock worth $4,511,098. 43.60% of the stock is owned by company insiders.

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.