Bytes Technology Group (LON:BYIT) Price Target Lowered to GBX 470 at Deutsche Bank Aktiengesellschaft

Bytes Technology Group (LON:BYIT - Free Report) had its target price trimmed by Deutsche Bank Aktiengesellschaft from GBX 575 ($7.85) to GBX 470 ($6.42) in a report issued on Wednesday, Marketbeat reports. The brokerage currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the stock. Berenberg Bank lowered shares of Bytes Technology Group to a "hold" rating and dropped their price target for the stock from GBX 660 ($9.01) to GBX 390 ($5.33) in a research report on Wednesday. Shore Capital lowered shares of Bytes Technology Group to a "hold" rating in a research report on Wednesday.

Bytes Technology Group Trading Up 1.5%

BYIT stock traded up GBX 5.40 ($0.07) on Wednesday, hitting GBX 355.20 ($4.85). 1,438,253 shares of the company were exchanged, compared to its average volume of 1,113,518. Bytes Technology Group has a twelve month low of GBX 341.60 ($4.66) and a twelve month high of GBX 563 ($7.69). 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 business's fifty day moving average is GBX 507.53 and its two-hundred day moving average is GBX 469.86. The stock has a market capitalization of £859.76 million, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Bytes Technology Group (LON:BYIT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The company reported GBX 25.07 ($0.34) EPS for the quarter. Bytes Technology Group had a net margin of 25.47% and a return on equity of 66.59%. As a group, research analysts forecast that Bytes Technology Group will post 11.3463262 earnings per share for the current year.

Insider Activity at Bytes Technology Group

In other Bytes Technology Group news, insider Andrew Holden sold 50,664 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of GBX 512 ($6.99), for a total transaction of £259,399.68 ($354,225.97). Also, insider Sam Mudd sold 65,264 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of GBX 500 ($6.83), for a total transaction of £326,320 ($445,609.72). Over the last quarter, insiders have sold 136,476 shares of company stock valued at $68,845,968. 9.51% of the stock is owned by insiders.

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.