JPMorgan Chase & Co. reaffirmed their underweight rating on shares of Softcat (LON:SCT – Free Report) in a report issued on Thursday morning, MarketBeat.com reports. The firm currently has a GBX 1,250 ($16.17) price objective on the stock.
Several other research firms have also recently weighed in on SCT. Shore Capital cut Softcat to a hold rating in a report on Wednesday, June 26th. Jefferies Financial Group cut Softcat to an underperform rating and cut their price target for the company from GBX 1,950 ($25.22) to GBX 1,490 ($19.27) in a report on Friday, July 5th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus target price of GBX 1,442.50 ($18.66).
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Softcat Stock Performance
Insiders Place Their Bets
In other Softcat news, insider Graham Charlton sold 35,000 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of GBX 1,583 ($20.47), for a total transaction of £554,050 ($716,567.51). 37.87% of the stock is currently owned by company insiders.
About Softcat
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.
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