Bytes Technology Group (LON:BYIT) Insider Buys £416,000 in Stock

Bytes Technology Group plc (LON:BYIT) insider Gavin Rochussen bought 100,000 shares of the firm’s stock in a transaction that occurred on Monday, July 13th. The stock was purchased at an average cost of GBX 416 per share, with a total value of £416,000.

Bytes Technology Group Trading Down 0.4%

BYIT opened at GBX 424 on Friday. The firm has a market cap of £988.54 million, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.27 and a beta of 0.71. Bytes Technology Group plc has a 52 week low of GBX 232.92 and a 52 week high of GBX 431.60. The business’s 50 day moving average is GBX 371.76 and its two-hundred day moving average is GBX 333.68. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 2.44.

Bytes Technology Group (LON:BYIT) last posted its quarterly earnings data on Tuesday, May 12th. The company reported GBX 21.40 earnings per share for the quarter. The business 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 predict that Bytes Technology Group plc will post 11.3463262 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BYIT shares. 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 390 target price on shares of Bytes Technology Group in a report on Wednesday, May 13th. Jefferies Financial Group increased 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. Shore Capital Group reissued a “hold” rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Finally, Berenberg Bank dropped their price target 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. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of £620.17.

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.