Ross Paterson Acquires 10,122 Shares of Bytes Technology Group (LON:BYIT) Stock

Key Points

• Ross Paterson, an insider at Bytes Technology Group plc, purchased 10,122 shares at an average price of GBX 393 ($5.31), amounting to a total value of £39,779.46 ($53,734.24) on August 18th.
• Bytes Technology Group has experienced a recent stock rating downgrade, with analysts at Deutsche Bank reducing their target price from GBX 575 to GBX 470 and setting a "hold" rating.
• The company's stock has a market capitalization of £947.39 million and has demonstrated a modest trading increase of 1.7% recently.

Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Ross Paterson purchased 10,122 shares of the business's stock in a transaction dated Monday, August 18th. The shares were purchased at an average price of GBX 393 per share, for a total transaction of £39,779.46.

Bytes Technology Group Trading Up 1.5%

Shares of BYIT stock traded up GBX 6 during trading hours on Friday, reaching GBX 403. 1,060,355 shares of the stock traded hands, compared to its average volume of 1,136,805. Bytes Technology Group plc has a 1-year low of GBX 317.60 and a 1-year high of GBX 563. The business has a fifty day moving average price of GBX 393.41 and a 200 day moving average price of GBX 451.67. The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of £975.46 million, a PE ratio of 18.73, a PEG ratio of 2.27 and a beta of 0.65.

Wall Street Analysts Forecast Growth

BYIT has been the topic of a number of recent analyst reports. Berenberg Bank lowered shares of Bytes Technology Group to a "hold" rating and cut their price target for the company from GBX 660 to GBX 390 in a report on Wednesday, July 2nd. Shore Capital lowered shares of Bytes Technology Group to a "hold" rating in a report on Wednesday, July 2nd. Finally, 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. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of GBX 430.

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.