Key Points
- Insider sale: Sam Mudd sold 7,691 Bytes Technology Group shares at an average price of GBX 447, for total proceeds of approximately £34,379.
- Stock and financial performance: BYIT opened at GBX 456.20, with a £1.05 billion market capitalization. The company reported quarterly earnings of GBX 12.76 per share, a 21.65% net margin, and a 69.17% return on equity.
- Analyst outlook: Ratings are mixed, with two Buy and three Hold recommendations. The consensus rating is Hold, with an average price target of GBX 443.75, while individual targets range from GBX 450 to GBX 520.
Bytes Technology Group plc (LON:BYIT - Get Free Report) insider Sam Mudd sold 7,691 shares of the firm's stock in a transaction dated Friday, October 23rd. The stock was sold at an average price of GBX 447, for a total transaction of £34,378.77.
Bytes Technology Group Stock Performance
Shares of BYIT stock opened at GBX 456.20 on Tuesday. The firm has a market cap of £1.05 billion, a price-to-earnings ratio of 22.00, 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 quick ratio of 0.98 and a current ratio of 1.03. Bytes Technology Group plc has a 52 week low of GBX 232.92 and a 52 week high of GBX 494.20. The firm's 50-day simple moving average is GBX 431.66 and its two-hundred day simple moving average is GBX 365.38.
Bytes Technology Group (LON:BYIT - Get Free Report) last released its earnings results on Tuesday, October 13th. The company reported GBX 12.76 earnings per share for the quarter. Bytes Technology Group had a net margin of 21.65% and a return on equity of 69.17%. As a group, equities analysts forecast that Bytes Technology Group plc will post 11.35 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on BYIT. Deutsche Bank Aktiengesellschaft raised Bytes Technology Group to a "buy" rating and upped their price target for the company from GBX 410 to GBX 500 in a research report on Wednesday, August 26th. Berenberg Bank restated a "buy" rating and issued a GBX 520 price objective on shares of Bytes Technology Group in a research note on Thursday, October 15th. Finally, Jefferies Financial Group restated a "hold" rating and issued a GBX 450 price objective on shares of Bytes Technology Group in a research note on Wednesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of GBX 443.75.
Read Our Latest Stock Report on BYIT
About Bytes Technology Group
(
Get Free Report)
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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