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

Shares of Bytes Technology Group plc (LON:BYIT) have earned an average recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is £620.17.

BYIT has been the subject of a number of recent research reports. UBS Group reissued a “neutral” rating and set a GBX 305 price objective on shares of Bytes Technology Group in a research report on Monday, May 11th. Berenberg Bank lowered their target price on Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating on the stock in a research report on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 390 price target on shares of Bytes Technology Group in a report on Wednesday, May 13th. Finally, Jefferies Financial Group upped their price target on Bytes Technology Group from £3,200 to £3,700 and gave the stock a “hold” rating in a research report on Thursday, June 25th.

Bytes Technology Group Stock Up 3.7%

Shares of BYIT stock opened at GBX 429 on Wednesday. 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. The stock has a market cap of £997.65 million, a P/E ratio of 20.68, a P/E/G ratio of 2.27 and a beta of 0.71. The company has a 50 day simple moving average of GBX 402.59 and a two-hundred day simple moving average of GBX 346.37.

Insider Buying and Selling

In other news, insider Gavin Rochussen bought 100,000 shares of the firm’s stock in a transaction on Monday, July 13th. The shares were bought at an average price of GBX 416 per share, for a total transaction of £416,000. Also, insider Sam Mudd purchased 25,000 shares of the stock in a transaction on Monday, July 13th. The shares were purchased at an average cost of GBX 413 per share, for a total transaction of £103,250. Insiders own 3.34% of the company’s stock.

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.