Bytes Technology Group (LON:BYIT) Insider Anna Vikstrom Persson Acquires 13,000 Shares

Key Points

• Insider Activity: Anna Vikstrom Persson, an insider at Bytes Technology Group plc, purchased 13,000 shares at an average price of £386, totaling approximately £50,180.
• Stock Performance: The company's stock rose by 1.7%, opening at £391.40, with a market capitalization of £947.39 million.
• Analyst Ratings: Recent analyst reports downgraded Bytes Technology's shares to a "hold" rating, with price targets reduced significantly by several major banks.

Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Anna Vikstrom Persson acquired 13,000 shares of the stock in a transaction on Monday, August 18th. The stock was bought at an average cost of GBX 386 per share, for a total transaction of £50,180.

Bytes Technology Group Stock Performance

BYIT stock traded up GBX 6 during mid-day 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 stock's fifty day moving average price is GBX 393.41 and its two-hundred day moving average price is GBX 451.45. Bytes Technology Group plc has a 12 month low of GBX 317.60 and a 12 month high of GBX 563. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 1.09. The firm has a market cap of £975.46 million, a PE ratio of 18.73, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Wall Street Analysts Forecast Growth

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