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

Softcat plc (LON:SCT) shares crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of GBX 1,605.43 ($20.09) and traded as low as GBX 1,517.95 ($18.99). Softcat shares last traded at GBX 1,524 ($19.07), with a volume of 38,175 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SCT shares. Berenberg Bank restated a “hold” rating and issued a GBX 1,600 ($20.02) target price on shares of Softcat in a report on Monday, October 28th. Shore Capital restated a “buy” rating on shares of Softcat in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of GBX 1,457.50 ($18.24).

Softcat Stock Up 0.1 %

The company’s 50-day simple moving average is GBX 1,605.43 and its two-hundred day simple moving average is GBX 1,601.13. The firm has a market capitalization of £3.04 billion, a P/E ratio of 2,725.00, 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 current ratio of 1.59 and a quick ratio of 1.38.

Softcat Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, December 17th. Investors of record on Thursday, November 7th were issued a GBX 39 ($0.49) dividend. This is a boost from Softcat’s previous dividend of $8.50. This represents a yield of 2.55%. The ex-dividend date was Thursday, November 7th. Softcat’s dividend payout ratio (DPR) is currently 4,642.86%.

Insider Buying and Selling at Softcat

In other Softcat news, insider Graeme Watt sold 7,213 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of GBX 1,562 ($19.54), for a total transaction of £112,667.06 ($140,974.80). 43.60% of the stock is currently owned by corporate 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.