Bytes Technology Group plc (LON:BYIT) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Analysts have a consensus “Hold” rating on Bytes Technology Group, with four holds and two buys among six covering firms. The average 12-month price target is £620.36.
• Deutsche Bank upgraded the stock to “Buy” and raised its target to GBX 500, while Jefferies increased its target to £3,700 but maintained a “Hold” rating.
• BYIT opened at GBX 389.60, with a market capitalization of approximately £897.64 million and a P/E ratio of 18.78. Insiders recently bought a combined 125,000 shares worth roughly £519,250.

Shares of Bytes Technology Group plc (LON:BYIT - Get Free Report) have received an average rating of "Hold" from the six research firms that are covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is £620.36.

A number of research firms recently commented on BYIT. Deutsche Bank Aktiengesellschaft upgraded Bytes Technology Group to a "buy" rating and upped their price objective for the company from GBX 410 to GBX 500 in a report on Wednesday, August 26th. Jefferies Financial Group raised their target price on Bytes Technology Group from £3,200 to £3,700 and gave the stock a "hold" rating in a report on Thursday, June 25th.

Bytes Technology Group Stock Performance

BYIT stock opened at GBX 389.60 on Friday. Bytes Technology Group has a twelve month low of GBX 232.92 and a twelve month high of GBX 443.40. The company has a quick ratio of 0.98, a current ratio of 1.05 and a debt-to-equity ratio of 2.44. The company has a market cap of £897.64 million, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 2.27 and a beta of 0.72. The business's fifty day moving average is GBX 412.81 and its 200-day moving average is GBX 356.56.

Insider Activity at Bytes Technology Group

In other news, insider Sam Mudd bought 25,000 shares of the stock in a transaction on Monday, July 13th. The stock was purchased at an average price of GBX 413 per share, with a total value of £103,250. Also, insider Gavin Rochussen bought 100,000 shares of the business's stock in a transaction on Monday, July 13th. The stock was purchased at an average price of GBX 416 per share, for a total transaction of £416,000. 3.37% of the stock is owned by company insiders.

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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