Insider Buying: Bytes Technology Group (LON:BYIT) Insider Purchases 13,000 Shares of Stock

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 company's stock in a transaction that occurred on Monday, August 18th. The shares were acquired at an average price of GBX 386 per share, for a total transaction of £50,180.

Bytes Technology Group Stock Performance

BYIT traded up GBX 6 on Friday, hitting GBX 403. 1,060,355 shares of the company's stock were exchanged, compared to its average volume of 1,136,805. The firm has a market cap of £975.46 million, a PE ratio of 18.73, a P/E/G ratio of 2.27 and a beta of 0.65. Bytes Technology Group plc has a twelve month low of GBX 317.60 and a twelve month high of GBX 563. The stock has a fifty day moving average of GBX 393.41 and a two-hundred day moving average of GBX 451.67. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BYIT shares. Berenberg Bank lowered shares of Bytes Technology Group to a "hold" rating and dropped their price objective for the stock from GBX 660 to GBX 390 in a research note on Wednesday, July 2nd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Bytes Technology Group from GBX 575 to GBX 470 and set a "hold" rating for the company in a research report on Wednesday, July 2nd. Finally, Shore Capital cut shares of Bytes Technology Group to a "hold" rating in a research report on Wednesday, July 2nd. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.