Bytes Technology Group’s (BYIT) “Hold” Rating Reiterated at Shore Capital

Shore Capital reaffirmed their hold rating on shares of Bytes Technology Group (LON:BYIT) in a report published on Tuesday, MarketBeat.com reports. The firm currently has a GBX 410 price objective on the stock.

BYIT has been the topic of a number of other reports. Peel Hunt restated a “buy” rating and set a GBX 638 price target on shares of Bytes Technology Group in a research report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Bytes Technology Group from GBX 575 to GBX 470 and set a “hold” rating on the stock in a report on Wednesday, July 2nd. Finally, Berenberg Bank downgraded Bytes Technology Group to a “hold” rating and reduced their price objective for the stock from GBX 660 to GBX 390 in a report on Wednesday, July 2nd. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Bytes Technology Group presently has a consensus rating of “Hold” and an average price target of GBX 457.60.

Bytes Technology Group Stock Down 0.9%

LON BYIT opened at GBX 362.60 on Tuesday. The firm has a market cap of £869.71 million, a PE ratio of 1,651.94, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. Bytes Technology Group has a one year low of GBX 317.60 and a one year high of GBX 563. The stock’s 50 day simple moving average is GBX 396.94 and its 200 day simple moving average is GBX 438.89. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.09 and a quick ratio of 0.98.

Bytes Technology Group (LON:BYIT) last released its quarterly earnings results on Tuesday, October 14th. The company reported GBX 12.03 EPS for the quarter. Bytes Technology Group had a return on equity of 66.59% and a net margin of 25.47%. As a group, sell-side analysts forecast that Bytes Technology Group will post 11.3463262 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Ross Paterson purchased 10,122 shares of the business’s stock in a transaction dated Monday, August 18th. The shares were bought at an average price of GBX 393 per share, with a total value of £39,779.46. Also, insider Patrick De Smedt purchased 12,800 shares of the business’s stock in a transaction dated Monday, August 18th. The stock was bought at an average cost of GBX 391 per share, for a total transaction of £50,048. In the last quarter, insiders purchased 61,347 shares of company stock worth $23,941,921. Company insiders own 3.18% of the company’s stock.

About Bytes Technology Group

With a 40-year track record, Bytes Technology Group is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware, and AI and cloud services.

Our strong relationships with many of the world’s largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base.