Softchoice (TSE:SFTC) Stock Price Down 0.9% – Here’s Why

Softchoice Co. (TSE:SFTC)’s share price traded down 0.9% during trading on Tuesday . The stock traded as low as C$20.87 and last traded at C$20.91. 5,187 shares changed hands during trading, a decline of 82% from the average session volume of 28,544 shares. The stock had previously closed at C$21.10.

Analysts Set New Price Targets

Several analysts recently commented on the company. Royal Bank of Canada raised their price objective on Softchoice from C$19.00 to C$20.00 and gave the stock a “sector perform” rating in a research note on Monday, August 12th. Scotiabank increased their target price on Softchoice from C$18.00 to C$20.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 14th. Finally, ATB Capital upgraded Softchoice from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from C$18.50 to C$23.00 in a report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$22.00.

Softchoice Stock Performance

The company has a market cap of C$1.26 billion, a P/E ratio of 23.23 and a beta of -0.14. The company has a fifty day moving average price of C$19.16 and a two-hundred day moving average price of C$18.36.

Softchoice Company Profile

Softchoice Corporation designs, procures, implements, and manages information technology (IT) solutions in Canada and the United States. The company offers cloud and data center solutions, such as data center and application modernization; collaboration and digital workplace solutions comprising secure access, and adoption and change management; IT asset management solutions, including software and hardware asset management solutions, and IT procurement services; network and security support solutions.