Gavin Rochussen Acquires 100,000 Shares of Bytes Technology Group (LON:BYIT) Stock

Key Points

• Insider buying: Gavin Rochussen purchased 100,000 shares of Bytes Technology Group at an average price of GBX 416, for a total of £416,000.
• Stock performance: BYIT shares were down 0.6% and opened at GBX 414.89, near their 52-week high of GBX 431.60. The stock has risen well above its 50-day and 200-day moving averages.
• Analyst sentiment: Wall Street analysts currently have an average Hold rating on Bytes Technology Group, with an average target price of £620.17.

Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Gavin Rochussen acquired 100,000 shares of the stock in a transaction on Monday, July 13th. The shares were purchased at an average price of GBX 416 per share, with a total value of £416,000.

Bytes Technology Group Trading Down 0.6%

Shares of BYIT stock opened at GBX 414.89 on Tuesday. Bytes Technology Group plc has a fifty-two week low of GBX 232.92 and a fifty-two week high of GBX 431.60. The stock's fifty day moving average price is GBX 364.78 and its two-hundred day moving average price is GBX 332.39. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.98 and a current ratio of 1.05. The company has a market cap of £967.30 million, a PE ratio of 20.00, a P/E/G ratio of 2.27 and a beta of 0.71.

Bytes Technology Group (LON:BYIT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 12th. The company reported GBX 21.40 earnings per share for the quarter. Bytes Technology Group had a return on equity of 64.69% and a net margin of 23.25%.The business had revenue of £220.56 million during the quarter. Equities analysts predict that Bytes Technology Group plc will post 11.3463262 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Berenberg Bank decreased their target price 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. Shore Capital Group reiterated a "hold" rating on shares of Bytes Technology Group in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a GBX 390 price objective on shares of Bytes Technology Group in a report on Wednesday, May 13th. UBS Group restated a "neutral" rating and set a GBX 305 price objective on shares of Bytes Technology Group in a research report on Monday, May 11th. Finally, Jefferies Financial Group increased their target price on Bytes Technology Group from £3,200 to £3,700 and gave the company a "hold" rating in a research report on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of £620.17.

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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