Bytes Technology Group plc (LON:BYIT) Receives Consensus Recommendation of “Hold” from Analysts

Bytes Technology Group plc (LON:BYIT) has received an average rating of “Hold” from the six analysts that are currently covering the stock, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is £620.36.

Several equities analysts recently issued reports on the company. Jefferies Financial Group boosted their price objective on Bytes Technology Group from £3,200 to £3,700 and gave the company a “hold” rating in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft upgraded shares of Bytes Technology Group to a “buy” rating and raised their target price for the stock from GBX 410 to GBX 500 in a report on Wednesday, August 26th.

Bytes Technology Group Trading Up 0.4%

LON BYIT opened at GBX 389.60 on Friday. The firm has a market cap of £897.64 million, a P/E ratio of 18.78, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.05 and a quick ratio of 0.98. The stock’s 50-day moving average is GBX 412.81 and its 200-day moving average is GBX 356.56. Bytes Technology Group has a one year low of GBX 232.92 and a one year high of GBX 443.40.

Insider Buying and Selling at Bytes Technology Group

In related news, insider Sam Mudd acquired 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were acquired at an average cost of GBX 413 per share, for a total transaction of £103,250. Also, insider Gavin Rochussen acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were bought at an average price of GBX 416 per share, for a total transaction of £416,000. 3.37% of the stock is owned by corporate insiders.

About Bytes Technology Group

BTG is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. With a team of more than 1,200 talented people, it serves around 6,000 customers in the corporate and public sectors, building lasting, trust-based relationships to help organisations get the most from the latest transformative technologies shaping our world.

As a value-added reseller, BTG works hand in hand with more than 100 of the world’s biggest vendors who make or distribute the software, hardware and other IT products that it provides to its customers.