Credit Suisse Group Lowers Softcat (SCT) Price Target to GBX 660

Softcat (LON:SCT) had its price objective trimmed by Credit Suisse Group from GBX 800 ($10.45) to GBX 660 ($8.62) in a report published on Thursday. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also commented on SCT. Berenberg Bank upped their price target on Softcat from GBX 650 ($8.49) to GBX 900 ($11.76) and gave the company a buy rating in a research report on Thursday, October 18th. Jefferies Financial Group upped their price target on Softcat from GBX 760 ($9.93) to GBX 790 ($10.32) and gave the company a hold rating in a research report on Wednesday, October 17th.

SCT opened at GBX 602 ($7.87) on Thursday. Softcat has a one year low of GBX 332.25 ($4.34) and a one year high of GBX 722.93 ($9.45).

The firm also recently declared a dividend, which will be paid on Friday, December 14th. Shareholders of record on Thursday, November 1st will be given a dividend of GBX 23.90 ($0.31) per share. This is a positive change from Softcat’s previous dividend of $3.30. The ex-dividend date is Thursday, November 1st. This represents a yield of 3.41%.

About Softcat

Softcat plc primarily acts as a value-added IT reseller in the United Kingdom. It provides IT infrastructure services to corporate and public sector organizations, such as software licensing, workplace technology, cloud and datacenter, and networking and security services. The company also offers business intelligence and analytics solutions; asset management solutions; cloud and managed services; collaboration solutions; commodity sourcing solutions; end user computing and mobility solutions; and print solutions, as well as provides professional services.

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