Softcat (SCT) Downgraded by Jefferies Group to Hold

Jefferies Group downgraded shares of Softcat (LON:SCT) to a hold rating in a research report sent to investors on Thursday morning. Jefferies Group currently has GBX 690 ($9.36) price objective on the stock, up from their prior price objective of GBX 600 ($8.14).

SCT has been the topic of several other reports. Berenberg Bank upgraded Softcat to a buy rating and raised their target price for the company from GBX 530 ($7.19) to GBX 650 ($8.82) in a report on Monday, February 19th. Citigroup raised their target price on Softcat from GBX 510 ($6.92) to GBX 600 ($8.14) and gave the company a neutral rating in a report on Thursday, March 22nd. Finally, Credit Suisse Group downgraded Softcat to a neutral rating and raised their target price for the company from GBX 600 ($8.14) to GBX 700 ($9.50) in a report on Thursday, March 22nd.

Shares of LON:SCT remained flat at $GBX 668 ($9.06) during mid-day trading on Thursday. The company had a trading volume of 175,152 shares, compared to its average volume of 400,057. Softcat has a 1-year low of GBX 332.25 ($4.51) and a 1-year high of GBX 722.93 ($9.81).

The business also recently announced a dividend, which was paid on Friday, May 11th. Investors of record on Thursday, March 29th were issued a dividend of GBX 3.30 ($0.04) per share. The ex-dividend date was Thursday, March 29th. This represents a dividend yield of 0.51%.

About Softcat

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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