Softcat Cancels Further Shares After Latest Buy-Back Tranche

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

Softcat plc has repurchased 152,188 of its ordinary shares on the London Stock Exchange through J.P. Morgan Securities as part of the share buy-back programme announced earlier in January, at prices between 1,398p and 1,439p per share and a weighted average price of 1,422.4190p. The company intends to cancel these shares, reducing its issued share capital to 198,446,240 ordinary shares with voting rights and leaving no shares held in treasury, a move that marginally increases existing shareholders’ proportional ownership and clarifies the new denominator for regulatory disclosure thresholds under the FCA’s rules.

The most recent analyst rating on (GB:SCT) stock is a Buy with a £1654.00 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-listed IT infrastructure and services provider, supplying software, hardware, cloud and related technology solutions primarily to corporate and public sector customers. The company is a constituent of the London market and actively manages its capital structure through programmes such as share buy-backs.

Average Trading Volume: 523,191

Technical Sentiment Signal: Hold

Current Market Cap: £2.83B

Learn more about SCT stock on TipRanks’ Stock Analysis page.