Bytes Technology Group plc (LON:BYIT) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• Bytes Technology Group has a consensus “Hold” rating from six analysts: four recommend holding and two recommend buying. The average 12-month price target is £620.17.
• Insiders recently bought shares, including 100,000 shares purchased by Gavin Rochussen and 25,000 by Sam Mudd on July 13; insiders collectively own 3.34% of the company.
• The stock opened at GBX 412, near its 52-week high of GBX 432.60, with a market capitalization of approximately £958 million and a P/E ratio of 19.86.

Bytes Technology Group plc (LON:BYIT - Get Free Report) has been assigned an average recommendation of "Hold" from the six analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is £620.17.

BYIT has been the subject of a number of research reports. Jefferies Financial Group upped their price objective 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. UBS Group restated a "neutral" rating and issued a GBX 305 price target on shares of Bytes Technology Group in a report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 390 price target on shares of Bytes Technology Group in a research report on Wednesday, May 13th. Finally, Berenberg Bank dropped their price objective on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a "hold" rating on the stock in a research note on Wednesday, May 13th.

Insider Buying and Selling at Bytes Technology Group

In related news, insider Gavin Rochussen purchased 100,000 shares of Bytes Technology Group stock in a transaction dated Monday, July 13th. The stock was purchased at an average cost of GBX 416 per share, with a total value of £416,000. Also, insider Sam Mudd acquired 25,000 shares of the firm's stock in a transaction that occurred on Monday, July 13th. The shares were bought at an average price of GBX 413 per share, with a total value of £103,250. 3.34% of the stock is currently owned by company insiders.

Bytes Technology Group Price Performance

Bytes Technology Group stock opened at GBX 412 on Wednesday. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.05 and a quick ratio of 0.98. The stock has a market cap of £958.12 million, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.27 and a beta of 0.71. The firm has a 50-day moving average of GBX 397.16 and a two-hundred day moving average of GBX 343.35. Bytes Technology Group has a 1 year low of GBX 232.92 and a 1 year high of GBX 432.60.

About Bytes Technology Group

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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