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Softcat ( (GB:SCT) ) just unveiled an announcement.
Softcat has repurchased 86,874 of its ordinary shares on the London Stock Exchange through J.P. Morgan Securities as part of its ongoing share buyback programme, at prices ranging between 1,447p and 1,464p and a weighted average price of 1,456.9347p. The company intends to cancel these shares, reducing its issued share capital to 199,720,854 ordinary shares with voting rights, a move that marginally enhances earnings per share and underscores Softcat’s continued capital-return strategy for shareholders.
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, and associated IT solutions to corporate and public sector customers. The company focuses on the UK and European markets, supporting organisations with technology procurement, cloud and security services, and ongoing IT support.
Average Trading Volume: 464,755
Technical Sentiment Signal: Hold
Current Market Cap: £2.88B
For an in-depth examination of SCT stock, go to TipRanks’ Overview page.