Insider Buying: Bytes Technology Group (LON:BYIT) Insider Acquires 10,122 Shares of 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 acquired 10,122 shares of the firm's stock in a transaction on Monday, August 18th. The stock was bought at an average price of GBX 393 per share, with a total value of £39,779.46.

Bytes Technology Group Trading Up 1.5%

LON BYIT traded up GBX 6 during trading on Friday, hitting GBX 403. The company had a trading volume of 1,060,355 shares, compared to its average volume of 1,136,805. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. Bytes Technology Group plc has a one year low of GBX 317.60 and a one year high of GBX 563. The company has a market cap of £975.46 million, a price-to-earnings ratio of 18.73, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company's fifty day moving average is GBX 393.41 and its 200-day moving average is GBX 451.45.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BYIT. Shore Capital lowered shares of Bytes Technology Group to a "hold" rating in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft decreased 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 research note on Wednesday, July 2nd. Finally, Berenberg Bank lowered shares of Bytes Technology Group to a "hold" rating and decreased their price target for the stock from GBX 660 to GBX 390 in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, Bytes Technology Group presently has a consensus rating of "Hold" and a consensus target price of GBX 430.

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.