Softcat (LON:SCT) Share Price Passes Below 50-Day Moving Average – Here’s What Happened

Shares of Softcat plc (LON:SCT) passed 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.

Analyst Ratings Changes

SCT has been the subject of a number of research analyst reports. Shore Capital restated a “buy” rating on shares of Softcat in a research report on Thursday, October 24th. Berenberg Bank restated a “hold” rating and set a GBX 1,600 ($20.02) price target on shares of Softcat in a report on Monday, October 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 1,457.50 ($18.24).

Softcat Stock Performance

The business’s fifty day moving average price is GBX 1,605.43 and its two-hundred day moving average price is GBX 1,601.13. The company has a debt-to-equity ratio of 3.57, a quick ratio of 1.38 and a current ratio of 1.59. The stock 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.

Softcat Increases Dividend

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

Insider Activity

In other news, insider Graeme Watt sold 10,087 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of GBX 1,574 ($19.69), for a total transaction of £158,769.38 ($198,660.39). Corporate insiders own 43.60% of the company’s stock.

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.