Bytes Technology Group (LON:BYIT) Insider Patrick De Smedt Purchases 12,800 Shares of Stock

Bytes Technology Group plc (LON:BYIT) insider Patrick De Smedt purchased 12,800 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was bought at an average price of GBX 391 per share, for a total transaction of £50,048.

Bytes Technology Group Stock Up 1.4%

Shares of LON BYIT opened at GBX 390 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09. Bytes Technology Group plc has a 52 week low of GBX 317.60 and a 52 week high of GBX 563. The stock has a market capitalization of £944.00 million, a P/E ratio of 18.12, a PEG ratio of 2.27 and a beta of 0.65. The stock’s fifty day moving average is GBX 401.35 and its 200 day moving average is GBX 452.96.

Analysts Set New Price Targets

BYIT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Bytes Technology Group from GBX 575 to GBX 470 and set a “hold” rating on the stock in a research report on Wednesday, July 2nd. Shore Capital cut Bytes Technology Group to a “hold” rating in a research report on Wednesday, July 2nd. Finally, Berenberg Bank cut Bytes Technology Group to a “hold” rating and decreased their price target for the stock from GBX 660 to GBX 390 in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 430.

About Bytes Technology Group

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI and cloud services.

Our strong relationships with many of the world’s largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base.