JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Softcat (LON:SCT) Stock

Softcat (LON:SCT) had its price objective hoisted by JPMorgan Chase & Co. from GBX 1,450 ($18.72) to GBX 1,759 ($22.71) in a research report sent to investors on Thursday, Marketbeat Ratings reports. The brokerage currently has a neutral rating on the stock.

Separately, Shore Capital reissued a “buy” rating on shares of Softcat in a research note 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 simple moving average is GBX 1,560.13 and its 200 day simple moving average is GBX 1,564.59. The company has a market cap of £3.28 billion, a price-to-earnings ratio of 27.57, a price-to-earnings-growth ratio of 11.51 and a beta of 0.71. 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 has a 12-month low of GBX 1,415 ($18.27) and a 12-month high of GBX 1,855 ($23.95).

Softcat (LON:SCT) last released its earnings results 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%. On average, research analysts expect that Softcat will post 60.72 earnings per share for the current fiscal year.

Softcat Cuts Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, May 21st. Shareholders of record on Thursday, April 10th will be given a GBX 8.90 ($0.11) dividend. This represents a yield of 0.53%. The ex-dividend date of this dividend is Thursday, April 10th. Softcat’s dividend payout ratio is presently 43.53%.

Insider Activity

In other news, insider Jacqui Ferguson acquired 3,038 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was purchased at an average price 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 the company’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of GBX 1,489 ($19.23), for a total value of £229,008.20 ($295,685.22). Over the last three months, insiders have bought 3,067 shares of company stock valued at $4,511,098. 43.60% of the stock is currently owned by corporate 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.