Key Points
- Insider buying: Bytes Technology Group insider Sam Mudd purchased 25,000 shares on July 13 at an average price of GBX 413, totaling £103,250.
- Stock performance: Shares opened at GBX 422, near their 1-year high of GBX 431.60 and above both the 50-day and 200-day moving averages, indicating strong recent momentum.
- Analyst view: Analysts currently have a Hold consensus on BYIT, with a range of targets and one widely cited consensus price target of £620.17.
Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Sam Mudd bought 25,000 shares of the company's stock in a transaction dated Monday, July 13th. The stock was bought at an average price of GBX 413 per share, for a total transaction of £103,250.
Bytes Technology Group Stock Performance
Bytes Technology Group stock opened at GBX 422 on Wednesday. The firm has a 50 day simple moving average of GBX 367.14 and a 200-day simple moving average of GBX 332.81. The stock has a market cap of £983.88 million, a price-to-earnings ratio of 20.35, a price-to-earnings-growth 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 plc has a 1-year low of GBX 232.92 and a 1-year high of GBX 431.60.
Bytes Technology Group (LON:BYIT - Get Free Report) last announced its quarterly earnings results on Tuesday, May 12th. The company reported GBX 21.40 earnings per share for the quarter. The business 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%. On average, analysts expect that Bytes Technology Group plc will post 11.3463262 EPS for the current year.
Analysts Set New Price Targets
Several analysts recently weighed in on BYIT shares. Shore Capital Group reiterated a "hold" rating on shares of Bytes Technology Group in a report on Wednesday, March 25th. Jefferies Financial Group raised their price target on Bytes Technology Group from £3,200 to £3,700 and gave the stock a "hold" rating in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a GBX 390 price objective on shares of Bytes Technology Group in a research note on Wednesday, May 13th. UBS Group reiterated a "neutral" rating and issued a GBX 305 price objective on shares of Bytes Technology Group in a report on Monday, May 11th. Finally, Berenberg Bank decreased their target price on Bytes Technology Group from GBX 390 to GBX 360 and set a "hold" rating on the stock in a research note 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of £620.17.
Get Our Latest Report on Bytes Technology Group
About Bytes Technology Group
(
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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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