Softcat (LON:SCT) Rating Increased to Buy at Jefferies Financial Group

Jefferies Financial Group upgraded shares of Softcat (LON:SCT) to a buy rating in a report published on Wednesday morning, ThisIsMoney.Co.Uk reports. Jefferies Financial Group currently has GBX 1,250 ($16.33) target price on the stock, up from their previous target price of GBX 978 ($12.78).

Separately, Berenberg Bank raised their price target on shares of Softcat from GBX 900 ($11.76) to GBX 1,100 ($14.37) and gave the stock a buy rating in a research note on Tuesday, July 30th.

Shares of SCT opened at GBX 1,096 ($14.32) on Wednesday. The stock has a market cap of $2.16 billion and a price-to-earnings ratio of 31.86. Softcat has a 12 month low of GBX 551 ($7.20) and a 12 month high of GBX 1,059 ($13.84). The company has a 50-day moving average price of GBX 976.49 and a two-hundred day moving average price of GBX 949.37.

The firm also recently declared a dividend, which will be paid on Friday, December 13th. Shareholders of record on Thursday, November 7th will be paid a dividend of GBX 26.40 ($0.34) per share. This is a boost from Softcat’s previous dividend of $4.50. The ex-dividend date is Thursday, November 7th. This represents a yield of 2.87%. Softcat’s dividend payout ratio (DPR) is currently 0.44%.

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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