Softcat (LON:SCT) Stock Crosses Below 50-Day Moving Average – Here’s Why

Softcat plc (LON:SCT) shares passed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of GBX 1,534.82 ($19.10) and traded as low as GBX 1,467 ($18.25). Softcat shares last traded at GBX 1,497 ($18.63), with a volume of 311,578 shares.

Analyst Upgrades and Downgrades

Several brokerages have commented on SCT. Shore Capital reissued a “buy” rating on shares of Softcat in a research report on Thursday, October 24th. Berenberg Bank reiterated a “hold” rating and issued a GBX 1,600 ($19.91) target price on shares of Softcat in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Softcat currently has an average rating of “Hold” and a consensus price target of GBX 1,457.50 ($18.13).

Softcat Stock Performance

The stock’s 50-day simple moving average is GBX 1,534.82 and its 200 day simple moving average is GBX 1,566.24. The company has a market capitalization of £3.04 billion, a PE ratio of 2,726.71, a P/E/G ratio of 11.51 and a beta of 0.71. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.38 and a current ratio of 1.59.

Insider Activity at Softcat

In other Softcat news, insider Graeme Watt sold 10,087 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of GBX 1,574 ($19.58), for a total value of £158,769.38 ($197,548.07). Also, insider Jacqui Ferguson acquired 3,038 shares of Softcat stock in a transaction dated Tuesday, January 21st. The shares were bought at an average price of GBX 1,470 ($18.29) per share, with a total value of £44,658.60 ($55,566.26). Insiders have sold 32,680 shares of company stock valued at $50,044,464 over the last quarter. 43.60% of the stock is owned by insiders.

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.