Softcat (LON:SCT) PT Raised to GBX 805 at Citigroup

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Softcat (LON:SCT) had its price target lifted by Citigroup from GBX 600 ($7.77) to GBX 805 ($10.42) in a report published on Tuesday, July 17th. They currently have a neutral rating on the stock.

Several other brokerages also recently issued reports on SCT. Jefferies Financial Group downgraded Softcat to a hold rating and increased their price target for the stock from GBX 600 ($7.77) to GBX 690 ($8.93) in a report on Thursday, May 17th. Credit Suisse Group increased their price objective on Softcat from GBX 700 ($9.06) to GBX 740 ($9.58) and gave the stock a neutral rating in a report on Wednesday, May 23rd.

Softcat stock traded down GBX 15 ($0.19) on Tuesday, reaching GBX 813 ($10.52). The company’s stock had a trading volume of 132,377 shares, compared to its average volume of 400,057. Softcat has a twelve month low of GBX 332.25 ($4.30) and a twelve month high of GBX 722.93 ($9.36).

In related news, insider Martin Hellawell sold 860,000 shares of the stock in a transaction that occurred on Tuesday, July 10th. The stock was sold at an average price of GBX 715 ($9.26), for a total transaction of £6,149,000 ($7,959,870.55).

Softcat Company Profile

Softcat plc primarily acts as a value-added IT reseller in the United Kingdom. It provides IT infrastructure services to corporate and public sector organizations, such as software licensing, workplace technology, cloud and datacenter, and networking and security services. The company also offers business intelligence and analytics solutions; asset management solutions; cloud and managed services; collaboration solutions; commodity sourcing solutions; end user computing and mobility solutions; and print solutions, as well as provides professional services.

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