Softcat Cancels 200,019 Shares Under Ongoing Buyback Programme

Softcat ( (GB:SCT) ) has provided an announcement.

Softcat has repurchased 200,019 ordinary shares on the London Stock Exchange as part of its previously announced share buyback programme, paying prices between 1,123p and 1,146p per share, with a weighted average of 1,132.5841p. The company plans to cancel these shares, signalling continued capital returns to investors and an effort to enhance earnings per share.

Following the cancellation, Softcat’s issued share capital will fall to 197,098,294 ordinary shares, all carrying voting rights and with no shares held in treasury. The revised share count will serve as the new reference figure for shareholders assessing notification thresholds under the FCA’s Disclosure and Transparency Rules, clarifying ownership reporting obligations in the market.

The most recent analyst rating on (GB:SCT) stock is a Hold with a £1238.00 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 is a U.K.-listed IT infrastructure and services provider, supplying software, hardware, cloud and security solutions primarily to corporate and public-sector clients. The company focuses on delivering technology procurement, integration and support services, positioning itself as a key channel partner in the enterprise IT market.

Average Trading Volume: 631,705

Technical Sentiment Signal: Sell

Current Market Cap: £2.26B

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