Softcat Completes £45 Million Share Buyback, Cuts Share Count

An update from Softcat ( (GB:SCT) ) is now available.

Softcat has completed its previously announced share buyback programme, repurchasing 3,352,161 ordinary shares for a total consideration of about £45 million, representing 1.67% of its issued share capital at the programme’s start. All repurchased shares have been cancelled, reducing the share count and potentially enhancing earnings per share and capital return metrics for investors.

Following the cancellation, Softcat’s issued share capital now consists of 196,840,451 ordinary shares, which also equals the total number of voting rights, as the company holds no treasury shares. This new share count provides the reference denominator for shareholders assessing disclosure thresholds under the FCA’s Disclosure and Transparency Rules.

The most recent analyst rating on (GB:SCT) stock is a Hold with a £1234.00 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 U.K.-listed IT infrastructure and services provider, supplying hardware, software and related technology solutions to corporate and public sector customers. The company focuses on value-added reselling, managed services and digital transformation support across a broad enterprise client base.

Average Trading Volume: 666,223

Technical Sentiment Signal: Sell

Current Market Cap: £2.24B

For a thorough assessment of SCT stock, go to TipRanks’ Stock Analysis page.