Sam Mudd Buys 25,000 Shares of Bytes Technology Group (LON:BYIT) Stock

Key Points

• Insider buying: Bytes Technology Group insider Sam Mudd purchased 25,000 shares on July 13 at an average price of GBX 413 per share, for a total of £103,250.
• Stock performance: BYIT shares recently opened at GBX 414.89, near the company’s 52-week high of GBX 431.60, and remain well above both the 50-day and 200-day moving averages.
• Analyst view: Analysts are mixed on the stock, with a consensus rating of “Hold”; the average target price cited in the article is £620.17.

Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Sam Mudd purchased 25,000 shares of Bytes Technology Group stock in a transaction dated Monday, July 13th. The stock was bought at an average cost of GBX 413 per share, with a total value of £103,250.

Bytes Technology Group Price Performance

Shares of BYIT stock opened at GBX 414.89 on Tuesday. Bytes Technology Group plc has a 1-year low of GBX 232.92 and a 1-year high of GBX 431.60. The stock's 50-day moving average is GBX 364.78 and its 200 day moving average is GBX 332.39. The company has a market cap of £967.30 million, a P/E ratio of 20.00, a PEG ratio of 2.27 and a beta of 0.71. The company has a debt-to-equity ratio of 2.44, a current ratio of 1.05 and a quick ratio of 0.98.

Bytes Technology Group (LON:BYIT - Get Free Report) last posted its earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share (EPS) for the quarter. The company had revenue of £220.56 million for the quarter. Bytes Technology Group had a return on equity of 64.69% and a net margin of 23.25%. Research analysts predict that Bytes Technology Group plc will post 11.3463262 earnings per share for the current fiscal year.

Analyst Ratings Changes

BYIT has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Bytes Technology Group from £3,200 to £3,700 and gave the stock a "hold" rating in a research report on Thursday, June 25th. UBS Group restated a "neutral" rating and issued a GBX 305 target price on shares of Bytes Technology Group in a research note on Monday, May 11th. Shore Capital Group reaffirmed a "hold" rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Berenberg Bank reduced their price target on Bytes Technology Group from GBX 390 to GBX 360 and set a "hold" rating on the stock in a research report on Wednesday, May 13th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a GBX 390 price objective on shares of Bytes Technology Group in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of £620.17.

Bytes Technology Group Company Profile

BTG is one of the UK and Ireland's leading software, security, AI and cloud services specialists. With a team of more than 1,200 talented people, it serves around 6,000 customers in the corporate and public sectors, building lasting, trust-based relationships to help organisations get the most from the latest transformative technologies shaping our world. As a value-added reseller, BTG works hand in hand with more than 100 of the world's biggest vendors who make or distribute the software, hardware and other IT products that it provides to its customers.

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