Bytes Technology Group plc (LON:BYIT) Given Consensus Recommendation of “Hold” by Brokerages

by · The Markets Daily

Bytes Technology Group plc (LON:BYIT – Get Free Report) has been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is £743.15.

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

Check Out Our Latest Stock Report on Bytes Technology Group

Bytes Technology Group Stock Performance

LON BYIT opened at GBX 450 on Friday. Bytes Technology Group has a fifty-two week low of GBX 232.92 and a fifty-two week high of GBX 456.20. The stock has a market cap of £1.04 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. The business has a fifty day moving average of GBX 413.53 and a 200-day moving average of GBX 360.24. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 2.44.

Insider Activity

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

About Bytes Technology Group

(Get Free Report)

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.

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