Softcat Cancels 189,200 Shares After Latest Buy-Back Tranche

Softcat ( (GB:SCT) ) just unveiled an update.

Softcat has repurchased 189,200 ordinary shares on the London Stock Exchange as part of its previously announced share buy-back programme, at prices ranging from 1,138p to 1,161p and a weighted average price of 1,151.9592p. The company will cancel these shares, reducing its issued share capital to 197,298,313 ordinary shares with voting rights, a move that marginally enhances earnings per share and signals ongoing capital returns to shareholders while providing a new denominator for regulatory disclosure thresholds.

The most recent analyst rating on (GB:SCT) stock is a Hold with a £1239.00 price target. To see the full list of analyst forecasts on Softcat stock, see the GB:SCT Stock Forecast page.

Spark’s Take on GB:SCT Stock

According to Spark, TipRanks’ AI Analyst, GB:SCT is a Outperform.

Softcat’s strong financial performance and positive corporate events are the most significant factors driving the score. However, technical indicators suggest caution due to bearish trends, and the valuation is moderate. The absence of recent earnings call data limits insights into management’s current outlook.

To see Spark’s full report on GB:SCT stock, click here.

More about Softcat

Softcat plc is a UK-based IT infrastructure and services provider listed on the London Stock Exchange. The company focuses on supplying software, hardware, cloud and related technology solutions to corporate and public sector clients, positioning itself as a key player in the UK IT services and solutions market.

Average Trading Volume: 600,308

Technical Sentiment Signal: Sell

Current Market Cap: £2.3B

See more insights into SCT stock on TipRanks’ Stock Analysis page.