Softcat (LON:SCT) Reaches New 52-Week High After Dividend Announcement

Softcat plc (LON:SCT)’s share price reached a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The company traded as high as GBX 1,836 ($23.88) and last traded at GBX 1,800.06 ($23.42), with a volume of 915201 shares trading hands. The stock had previously closed at GBX 1,623 ($21.11).

The newly announced dividend which will be paid on Friday, March 28th. Investors of record on Thursday, March 20th will be issued a dividend of GBX 67.50 ($0.88) per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a yield of 0.55%. This is an increase from Softcat’s previous dividend of $39.00. Softcat’s payout ratio is currently 43.53%.

Wall Street Analysts Forecast Growth

Separately, Shore Capital reissued a “buy” rating on shares of Softcat in a report on Wednesday.

Softcat Stock Up 10.9 %

The company has a market cap of £3.58 billion, a PE ratio of 30.14, a P/E/G 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. The firm’s fifty day simple moving average is GBX 1,553.14 and its 200-day simple moving average is GBX 1,563.25.

Softcat (LON:SCT) last announced its quarterly 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%. As a group, equities research analysts expect that Softcat plc will post 60.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Softcat

In other news, insider Jacqui Ferguson acquired 3,038 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was acquired at an average price of GBX 1,470 ($19.12) per share, with a total value of £44,658.60 ($58,096.27). Also, insider Graham Charlton sold 15,380 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of GBX 1,489 ($19.37), for a total transaction of £229,008.20 ($297,916.22). Insiders have acquired 3,067 shares of company stock valued at $4,511,098 over the last quarter. 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.