Softchoice (TSE:SFTC) Shares Down 1.2% – Here’s Why

Softchoice Co. (TSE:SFTC) dropped 1.2% during trading on Wednesday . The stock traded as low as C$21.23 and last traded at C$21.56. Approximately 5,964 shares traded hands during trading, a decline of 76% from the average daily volume of 24,816 shares. The stock had previously closed at C$21.83.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SFTC shares. Scotiabank raised shares of Softchoice from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from C$20.00 to C$24.00 in a research report on Tuesday, November 12th. Cormark upped their price target on Softchoice from C$24.00 to C$25.50 in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of C$22.67.

Softchoice Stock Down 1.2 %

The firm has a market capitalization of C$1.30 billion, a price-to-earnings ratio of 23.96 and a beta of -0.14. The company has a fifty day moving average price of C$22.10 and a two-hundred day moving average price of C$19.34.

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.