Insider Selling: Bytes Technology Group (LON:BYIT) Insider Sells 7,691 Shares of Stock

Bytes Technology Group plc (LON:BYIT) insider Sam Mudd sold 7,691 shares of the firm’s stock in a transaction dated Friday, October 23rd. The shares were sold at an average price of GBX 447, for a total value of £34,378.77.

Bytes Technology Group Price Performance

Shares of LON BYIT traded up GBX 7.20 during mid-day trading on Monday, reaching GBX 456.40. The company’s stock had a trading volume of 490,233 shares, compared to its average volume of 2,666,695. The firm has a market capitalization of £1.05 billion, a PE ratio of 22.01, a P/E/G ratio of 2.27 and a beta of 0.72. The company has a debt-to-equity ratio of 2.94, a current ratio of 1.03 and a quick ratio of 0.98. The stock has a fifty day moving average of GBX 430.72 and a two-hundred day moving average of GBX 388.43. Bytes Technology Group plc has a 52 week low of GBX 232.92 and a 52 week high of GBX 494.20.

Bytes Technology Group (LON:BYIT) last issued its earnings results on Tuesday, October 13th. The company reported GBX 12.76 earnings per share (EPS) for the quarter. Bytes Technology Group had a return on equity of 69.17% and a net margin of 21.65%. As a group, sell-side analysts anticipate that Bytes Technology Group plc will post 11.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BYIT. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 450 target price on shares of Bytes Technology Group in a research note on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft raised shares of Bytes Technology Group to a “buy” rating and increased their price objective for the company from GBX 410 to GBX 500 in a report on Wednesday, August 26th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 520 target price on shares of Bytes Technology Group in a report on Thursday, October 15th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 443.75.

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.