Bytes Technology Group (LON:BYIT) Earns Hold Rating from Shore Capital

Bytes Technology Group (LON:BYIT)‘s stock had its “hold” rating reissued by stock analysts at Shore Capital in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a GBX 410 target price on the stock. Shore Capital’s target price indicates a potential upside of 5.07% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Peel Hunt restated a “buy” rating and issued a GBX 638 target price on shares of Bytes Technology Group in a research note on Thursday. Berenberg Bank lowered shares of Bytes Technology Group to a “hold” rating and cut their target price for the company from GBX 660 to GBX 390 in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Bytes Technology Group from GBX 575 to GBX 470 and set a “hold” rating on the stock in a research note on Wednesday, July 2nd. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Bytes Technology Group presently has a consensus rating of “Hold” and a consensus target price of GBX 477.

Bytes Technology Group Stock Performance

LON:BYIT opened at GBX 390.20 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98. The firm has a 50-day moving average of GBX 379.47 and a two-hundred day moving average of GBX 446.76. The stock has a market cap of £943.45 million, a P/E ratio of 1,777.68, a PEG ratio of 2.27 and a beta of 0.65. Bytes Technology Group has a 1-year low of GBX 317.60 and a 1-year high of GBX 563.

Insider Buying and Selling at Bytes Technology Group

In other Bytes Technology Group news, insider Anna Vikstrom Persson acquired 13,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were purchased at an average price of GBX 386 per share, for a total transaction of £50,180. Also, insider Patrick De Smedt acquired 12,800 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of GBX 391 per share, for a total transaction of £50,048. Insiders have bought 61,347 shares of company stock worth $23,941,921 in the last ninety days. Insiders own 3.16% of the company’s stock.

Bytes Technology Group Company Profile

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.