Insider Buying: Bytes Technology Group (LON:BYIT) Insider Acquires 100,000 Shares

Bytes Technology Group plc (LON:BYIT) insider Gavin Rochussen purchased 100,000 shares of the firm’s stock in a transaction dated Monday, July 13th. The stock was bought at an average cost of GBX 416 per share, with a total value of £416,000.

Bytes Technology Group Stock Performance

Shares of BYIT stock opened at GBX 414.89 on Tuesday. The stock has a market capitalization of £967.30 million, a PE ratio of 20.00, a PEG ratio of 2.27 and a beta of 0.71. The business’s 50 day simple moving average is GBX 364.78 and its 200 day simple moving average is GBX 332.39. 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 plc has a one year low of GBX 232.92 and a one year high of GBX 431.60.

Bytes Technology Group (LON:BYIT) last released its quarterly earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share (EPS) for the quarter. The firm had revenue of £220.56 million during the quarter. Bytes Technology Group had a net margin of 23.25% and a return on equity of 64.69%. As a group, research analysts forecast that Bytes Technology Group plc will post 11.3463262 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BYIT. Berenberg Bank dropped their target price on shares of Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating on the stock in a report on Wednesday, May 13th. Shore Capital Group reiterated a “hold” rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 390 price objective on shares of Bytes Technology Group in a research report on Wednesday, May 13th. UBS Group reaffirmed a “neutral” rating and set a GBX 305 target price on shares of Bytes Technology Group in a research note on Monday, May 11th. Finally, Jefferies Financial Group boosted their price target on Bytes Technology Group from £3,200 to £3,700 and gave the company a “hold” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of £620.17.

About Bytes Technology Group

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.