Insider Selling: Bytes Technology Group (LON:BYIT) Insider Sells £60,130.44 in Stock

Bytes Technology Group plc (LON:BYIT) insider Andrew Holden sold 13,452 shares of the business’s stock in a transaction on Friday, October 23rd. The shares were sold at an average price of GBX 447, for a total transaction of £60,130.44.

Andrew Holden also recently made the following trade(s):

• On Friday, July 31st, Andrew Holden sold 23 shares of Bytes Technology Group stock. The shares were sold at an average price of GBX 407, for a total transaction of GBX 9,361.

Bytes Technology Group Price Performance

Shares of BYIT opened at GBX 464.70 on Thursday. The business’s 50-day moving average is GBX 433.94 and its two-hundred day moving average is GBX 366.41. The company has a market capitalization of £1.07 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.98 and a current ratio of 1.03. Bytes Technology Group plc has a fifty-two week low of GBX 232.92 and a fifty-two week high of GBX 494.20.

Bytes Technology Group (LON:BYIT) last released its quarterly earnings data on Tuesday, October 13th. The company reported GBX 12.76 earnings per share for the quarter. Bytes Technology Group had a return on equity of 69.17% and a net margin of 21.65%. Research analysts predict that Bytes Technology Group plc will post 11.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BYIT has been the subject of several recent research reports. Jefferies Financial Group reiterated a “hold” rating and set a GBX 450 price target on shares of Bytes Technology Group in a research report on Wednesday, October 14th. Berenberg Bank reissued a “buy” rating and issued a GBX 520 price target on shares of Bytes Technology Group in a report on Thursday, October 15th. Finally, Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a “buy” rating and upped their price objective for the stock from GBX 410 to GBX 500 in a research report on Wednesday, August 26th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of GBX 443.75.

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.