Bytes Technology Group plc (LON:BYIT) Receives Average Rating of “Hold” from Brokerages

Bytes Technology Group plc (LON:BYIT) has been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is £620.17.

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 390 target price on shares of Bytes Technology Group in a research note on Wednesday, May 13th. Berenberg Bank lowered their price target on Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company in a report on Wednesday, May 13th. Jefferies Financial Group boosted their price target on Bytes Technology Group from £3,200 to £3,700 and gave the stock a “hold” rating in a research note on Thursday, June 25th. Finally, UBS Group restated a “neutral” rating and set a GBX 305 price objective on shares of Bytes Technology Group in a report on Monday, May 11th.

Insider Activity at Bytes Technology Group

In related news, insider Sam Mudd purchased 25,000 shares of the firm’s stock in a transaction on Monday, July 13th. The stock was acquired at an average price of GBX 413 per share, with a total value of £103,250. Also, insider Gavin Rochussen acquired 100,000 shares of the stock in a transaction dated Monday, July 13th. The shares were bought at an average price of GBX 416 per share, with a total value of £416,000. 3.34% of the stock is currently owned by insiders.

Bytes Technology Group Stock Performance

Shares of BYIT stock opened at GBX 412 on Wednesday. The business’s fifty day simple moving average is GBX 397.16 and its 200-day simple moving average is GBX 343.35. The company has a market cap of £958.12 million, a PE ratio of 19.86, a PEG ratio of 2.27 and a beta of 0.71. The company has a current ratio of 1.05, a quick ratio of 0.98 and a debt-to-equity ratio of 2.44. Bytes Technology Group has a 12-month low of GBX 232.92 and a 12-month high of GBX 432.60.

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.