Berenberg Bank Raises Softcat (LON:SCT) Price Target to GBX 1,100

Softcat (LON:SCT) had its price target hoisted by Berenberg Bank from GBX 900 ($11.76) to GBX 1,100 ($14.37) in a research report report published on Tuesday morning, ThisIsMoney.Co.Uk reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Numis Securities reissued an add rating on shares of Softcat in a report on Thursday, May 16th.

Softcat stock opened at GBX 929.50 ($12.15) on Tuesday. The business has a 50-day simple moving average of GBX 949.94. The company has a market capitalization of $1.84 billion and a price-to-earnings ratio of 29.41. Softcat has a 52 week low of GBX 551 ($7.20) and a 52 week high of GBX 1,006 ($13.15).

In related news, insider Peter Ventress sold 18,202 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of GBX 943 ($12.32), for a total value of £171,644.86 ($224,284.41).

About Softcat

Softcat plc primarily acts as a value-added IT reseller and IT infrastructure solutions provider in the United Kingdom. The company advices, designs, procures, implements, and manages technology for businesses and public sector organizations, such as software licensing, workplace technology, networking, security, and cloud and datacenter.

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