Bytes Technology Group (LON:BYIT) Insider Acquires £50,048 in Stock

Key Points

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Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Patrick De Smedt bought 12,800 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was purchased at an average price of GBX 391 per share, for a total transaction of £50,048.

Bytes Technology Group Stock Performance

Bytes Technology Group 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 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 12-month low of GBX 317.60 and a 12-month high of GBX 563. The company's fifty day moving average is GBX 393.41 and its 200-day moving average is GBX 451.67. The company has a market capitalization of £975.46 million, a price-to-earnings ratio of 18.73, a P/E/G ratio of 2.27 and a beta of 0.65.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped 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 report on Wednesday, July 2nd. Berenberg Bank cut Bytes Technology Group to a "hold" rating and reduced their price objective for the company from GBX 660 to GBX 390 in a research note on Wednesday, July 2nd. Finally, Shore Capital lowered Bytes Technology Group to a "hold" rating in a report on Wednesday, July 2nd. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Bytes Technology Group has an average rating of "Hold" and a consensus price target 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.