Computacenter (CCC) Hits New 1-Year Low on Analyst Downgrade

Computacenter plc (LON:CCC) shares reached a new 52-week low on Thursday after Barclays lowered their price target on the stock from GBX 1,100 to GBX 1,000. Barclays currently has an underweight rating on the stock. Computacenter traded as low as GBX 956 ($12.49) and last traded at GBX 969 ($12.66), with a volume of 192098 shares changing hands. The stock had previously closed at GBX 996 ($13.01).

CCC has been the subject of a number of other research reports. UBS Group upgraded Computacenter to a “neutral” rating and upped their price target for the stock from GBX 1,255 ($16.40) to GBX 1,285 ($16.79) in a research report on Wednesday, October 3rd. Berenberg Bank restated a “buy” rating and issued a GBX 1,850 ($24.17) price target on shares of Computacenter in a research report on Tuesday, October 30th.

In related news, insider Raymond Gray purchased 1,800 shares of Computacenter stock in a transaction on Wednesday, October 31st. The stock was acquired at an average price of GBX 1,081 ($14.13) per share, for a total transaction of £19,458 ($25,425.32). Also, insider Greg Lock purchased 2,000 shares of Computacenter stock in a transaction on Wednesday, October 10th. The stock was bought at an average price of GBX 1,204 ($15.73) per share, with a total value of £24,080 ($31,464.79). In the last 90 days, insiders acquired 60,800 shares of company stock valued at $70,929,800.

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About Computacenter (LON:CCC)

Computacenter plc, through its subsidiaries, provides information technology (IT) infrastructure services in the United Kingdom, Germany, France, and Belgium. The company offers information security, and identity and access management solutions, as well as endpoint, infrastructure, and cyber security solutions; network solutions, including local area and datacenter network, and physical infrastructure; and datacenter solutions, such as enterprise computing, hybrid cloud, data and storage management, and analytics and big data.

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