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Prices & Quotes - UK Markets - Computacenter (CCC)

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Share Price:
Down 2,696.00p
Change Today:
-60.00p
Market Cap:
3,307.67m
Sector:
Software & Computer Services

Barclays ups Computacenter price target as shares hit new high

By Sean Farrell

Date: Thursday 10 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Higher demand for business continuity services appears to have become a structural trend for Computacenter, Barclays said as it increased its price target for the IT infrastructure company.
Computacenter's UK business has boomed as companies have upgraded computer systems to support home working and increase security during the Covid-19 crisis. The FTSE 250 company reported a 39% increase in first-half profit on Wednesday.

After a series of profit upgrades, further improvement is possible in the second half but not highly likely, Barclays said. The bank kept its 'equal weight' rating on Computacenter shares and increased its price target to 21 from 16, reflecting an earnings upgrade to 1.15 a share from 91p a share.

Barclays said it was not "chasing the shares", which have hit a record high. The shares rose to a new peak of 24 on Thursday and were up 3.9% to 23.58 at 13:37 BST.

Computacenter announced the 140m acquisition of Canada's Pivot with Wednesday's trading update. Barclays said the deal had "a few wrinkles" but that the price was attractive and the deal would double Computacenter's US footprint.

"Computacenter's performance is very impressive," Barclays said. "FY21 is harder to project, with an uncertain economic outlook, tough comparatives and business continuity challenges having been solved by businesses this year, but it is arguably premature to worry about that."







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Computacenter Market Data

Currency UK Pounds
Price 2,696.00p
Change Today -60.00p
52 Week High 3,030.00p
52 Week Low 2,086.00p
Volume 167,828
Shares Issued 122.69m
Market Cap 3,307.67m

Performance Indicators

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Computacenter Dividends

  Latest Previous
  Interim Final
Ex-Div 23-Sep-21 03-Jun-21
Paid 22-Oct-21 02-Jul-21
Amount 16.90p 38.40p

Trades for 21-Jan-2022

Time Volume / Share Price
16:36 6,500 @ 2,695.67p
16:35 28,183 @ 2,696.00p
16:29 47 @ 2,690.00p
16:29 1 @ 2,690.00p
16:29 12 @ 2,688.00p

Computacenter Key Personnel

CEO Michael J Norris