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

Key Points

• Bytes Technology Group's stock, traded as BYIT, has had its "hold" rating reiterated by Shore Capital, with a price target of GBX 410, indicating a potential upside of 3.74% from its current price.
• Several analysts have adjusted their price targets for the company, with estimates ranging from GBX 390 to GBX 470, while only one analyst has rated the stock as a Buy.
• Insiders at Bytes Technology Group have recently acquired a total of 61,347 shares worth approximately £99,411.75, reflecting confidence in the company's future performance.

Shore Capital restated their hold rating on shares of Bytes Technology Group (LON:BYIT - Free Report) in a research report sent to investors on Thursday, MarketBeat reports. Shore Capital currently has a GBX 410 price objective on the stock.

Other equities research analysts have also recently issued reports about the stock. Peel Hunt restated a "buy" rating and issued a GBX 638 price target on shares of Bytes Technology Group in a report on Thursday, September 18th. Berenberg Bank cut shares of Bytes Technology Group to a "hold" rating and reduced their price target for the stock from GBX 660 to GBX 390 in a report on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Bytes Technology Group from GBX 575 to GBX 470 and set a "hold" rating for the company in a report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of GBX 477.

Bytes Technology Group Trading Up 1.1%

LON BYIT traded up GBX 4.40 during mid-day trading on Thursday, reaching GBX 400.60. 577,171 shares of the stock were exchanged, compared to its average volume of 1,402,944. 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 stock has a market cap of £968.60 million, a P/E ratio of 1,825.06, a P/E/G ratio of 2.27 and a beta of 0.65. The stock has a 50 day simple moving average of GBX 380.98 and a 200-day simple moving average of GBX 447.02. Bytes Technology Group has a one year low of GBX 317.60 and a one year high of GBX 563.

Insider Activity at Bytes Technology Group

In other Bytes Technology Group news, insider Ross Paterson purchased 10,122 shares of the stock in a transaction dated Monday, August 18th. The shares were bought at an average price of GBX 393 per share, with a total value of £39,779.46. Also, insider Sam Mudd purchased 25,425 shares of the stock in a transaction dated Monday, August 18th. The stock was acquired at an average cost of GBX 391 per share, for a total transaction of £99,411.75. In the last ninety days, insiders acquired 61,347 shares of company stock worth $23,941,921. Insiders own 3.16% of the company's stock.

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.