Bytes Technology Group (LON:BYIT) Insider Purchases £99,411.75 in Stock

Key Points

• Sam Mudd, an insider at Bytes Technology Group plc, purchased 25,425 shares for a total of £99,411.75 ($134,285.76) at an average price of GBX 391 ($5.28) on August 18th.
• Bytes Technology's stock has experienced fluctuations, with a 52-week low of GBX 317.60 ($4.29) and a high of GBX 563 ($7.61), currently trading at GBX 391.40 ($5.29).
• Several analysts have downgraded their ratings for Bytes Technology, with Shore Capital and Deutsche Bank moving to a "hold" rating and lowering price targets.

Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Sam Mudd acquired 25,425 shares of Bytes Technology Group stock in a transaction dated Monday, August 18th. The shares were acquired at an average price of GBX 391 per share, with a total value of £99,411.75.

Sam Mudd also recently made the following trade(s):

• On Tuesday, June 24th, Sam Mudd sold 65,264 shares of Bytes Technology Group stock. The shares were sold at an average price of GBX 500, for a total transaction of £326,320.
• On Tuesday, June 24th, Sam Mudd sold 20,548 shares of Bytes Technology Group stock. The shares were sold at an average price of GBX 500, for a total transaction of £102,740.

Bytes Technology Group Stock Up 1.5%

Shares of LON BYIT traded up GBX 6 during mid-day trading on Friday, reaching GBX 403. 1,060,355 shares of the company's stock traded hands, compared to its average volume of 1,136,805. The stock has a market cap of £975.46 million, a P/E ratio of 18.73, a PEG ratio of 2.27 and a beta of 0.65. The business has a 50-day simple moving average of GBX 393.41 and a 200 day simple moving average of GBX 451.45. Bytes Technology Group plc has a 1-year low of GBX 317.60 and a 1-year high of GBX 563. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BYIT shares. Shore Capital cut shares of Bytes Technology Group to a "hold" rating in a report on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft cut their price target on shares of Bytes Technology Group from GBX 575 to GBX 470 and set a "hold" rating on the stock in a report on Wednesday, July 2nd. Finally, Berenberg Bank cut shares of Bytes Technology Group to a "hold" rating and cut their price target for the stock from GBX 660 to GBX 390 in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of GBX 430.

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.