Shares of Softcat PLC (LON:SCT) reached a new 52-week high on Tuesday following insider buying activity. The stock traded as high as GBX 1,126 ($14.71) and last traded at GBX 1,119 ($14.62), with a volume of 1941 shares traded. The stock had previously closed at GBX 1,126 ($14.71).
Specifically, insider Martin Hellawell acquired 1,000,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were bought at an average price of GBX 1,046 ($13.67) per share, with a total value of £10,460,000 ($13,667,842.68).
Several equities analysts have commented on SCT shares. Jefferies Financial Group raised Softcat to a “buy” rating and upped their price objective for the company from GBX 978 ($12.78) to GBX 1,250 ($16.33) in a research report on Wednesday, November 6th. Berenberg Bank upped their price objective on Softcat from GBX 900 ($11.76) to GBX 1,100 ($14.37) and gave the company a “buy” rating in a research report on Tuesday, July 30th.
The company also recently declared a dividend, which will be paid on Friday, December 13th. Stockholders of record on Thursday, November 7th will be given a dividend of GBX 26.40 ($0.34) per share. This is an increase from Softcat’s previous dividend of $4.50. The ex-dividend date of this dividend is Thursday, November 7th. This represents a dividend yield of 2.87%. Softcat’s dividend payout ratio is presently 0.44%.
Softcat Company Profile (LON:SCT)
Softcat plc primarily acts as a value-added IT reseller and IT infrastructure solutions provider in the United Kingdom. The company advices, designs, procures, implements, and manages technology for businesses and public sector organizations, such as software licensing, workplace technology, networking, security, and cloud and datacenter.
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