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 business’s stock in a transaction that occurred on 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 Trading Up 1.6%

LON BYIT traded up GBX 7.20 on Monday, hitting GBX 456.40. 490,233 shares of the stock were exchanged, compared to its average volume of 2,666,695. 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 has a market capitalization of £1.05 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.27 and a beta of 0.72. The stock has a fifty day moving average price of GBX 430.72 and a two-hundred day moving average price of GBX 388.43.

Bytes Technology Group (LON:BYIT) last released 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 net margin of 21.65% and a return on equity of 69.17%. Research analysts forecast that Bytes Technology Group plc will post 11.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on BYIT shares. Jefferies Financial Group restated a “hold” rating and issued a GBX 450 price target on shares of Bytes Technology Group in a report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft raised Bytes Technology Group to a “buy” rating and increased their price objective for the stock from GBX 410 to GBX 500 in a research note on Wednesday, August 26th. Finally, Berenberg Bank restated a “buy” rating and set a GBX 520 price objective on shares of Bytes Technology Group in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.