Softcat (SCT) Receives “Hold” Rating from Berenberg Bank

Softcat (LON:SCT)‘s stock had its “hold” rating reissued by analysts at Berenberg Bank in a note issued to investors on Wednesday. They currently have a GBX 425 ($5.69) target price on the stock. Berenberg Bank’s target price indicates a potential downside of 18.11% from the company’s current price.

Separately, Jefferies Group upgraded shares of Softcat to a “buy” rating and increased their price objective for the stock from GBX 345 ($4.62) to GBX 565 ($7.57) in a research note on Monday, October 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Softcat currently has an average rating of “Buy” and a consensus price target of GBX 426 ($5.71).

Shares of Softcat (SCT) traded down GBX 10.50 ($0.14) during trading on Wednesday, reaching GBX 519 ($6.95). 433,567 shares of the company’s stock were exchanged, compared to its average volume of 472,114. Softcat has a 12-month low of GBX 283 ($3.79) and a 12-month high of GBX 722.93 ($9.68).

In related news, insider Peter Ventress purchased 18,202 shares of Softcat stock in a transaction dated Thursday, November 16th. The shares were bought at an average cost of GBX 547 ($7.33) per share, for a total transaction of £99,564.94 ($133,339.95). Over the last 90 days, insiders bought 18,304 shares of company stock worth $10,001,566.

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Softcat Company Profile

Softcat Plc is an information technology (IT) reseller and IT infrastructure solutions provider to the corporate and public sector markets. The Company provides organizations with workplace, datacenter and networking, and security solutions combined with all the services required to design, implement, support and manage them, on premise or in the cloud.

Analyst Recommendations for Softcat (LON:SCT)

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