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

Shares of Bytes Technology Group plc (LON:BYIT) have been assigned an average recommendation of “Hold” from the six research firms that are covering the company, Marketbeat.com reports. Four research 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 analysts that have issued a report on the stock in the last year is £620.17.

A number of equities research analysts have recently issued reports on BYIT shares. Berenberg Bank cut 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. UBS Group reissued a “neutral” rating and issued a GBX 305 price target on shares of Bytes Technology Group in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 390 price objective on shares of Bytes Technology Group in a report on Wednesday, May 13th. Finally, Jefferies Financial Group upped their price objective on shares of Bytes Technology Group from £3,200 to £3,700 and gave the company a “hold” rating in a research note on Thursday, June 25th.

Bytes Technology Group Price Performance

LON BYIT opened at GBX 416.20 on Friday. The stock has a market capitalization of £970.35 million, a P/E ratio of 20.07, a P/E/G ratio of 2.27 and a beta of 0.71. Bytes Technology Group has a 1 year low of GBX 232.92 and a 1 year high of GBX 431.60. The business’s fifty day moving average is GBX 382 and its two-hundred day moving average is GBX 336.31. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.98 and a current ratio of 1.05.

Bytes Technology Group (LON:BYIT) last announced its quarterly earnings data on Tuesday, May 12th. The company reported GBX 21.40 EPS for the quarter. The company had revenue of £220.56 million during the quarter. Bytes Technology Group had a return on equity of 64.69% and a net margin of 23.25%. On average, research analysts forecast that Bytes Technology Group will post 11.3463262 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Sam Mudd acquired 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. Also, insider Gavin Rochussen acquired 100,000 shares of the stock in a transaction on Monday, July 13th. The shares were purchased at an average price of GBX 416 per share, for a total transaction of £416,000. 3.28% of the stock is owned by insiders.

Bytes Technology Group Company Profile

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.