Bytes Technology Group (LON:BYIT) Price Target Raised to GBX 660

Bytes Technology Group (LON:BYIT) had its price objective boosted by Berenberg Bank from GBX 640 ($8.30) to GBX 660 ($8.56) in a report issued on Tuesday morning, MarketBeat Ratings reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Shore Capital restated a “buy” rating on shares of Bytes Technology Group in a research report on Tuesday.

Bytes Technology Group Trading Down 0.1 %

LON BYIT opened at GBX 490 ($6.35) on Tuesday. The stock’s 50-day simple moving average is GBX 439.24 and its two-hundred day simple moving average is GBX 454.88. Bytes Technology Group has a twelve month low of GBX 400 ($5.19) and a twelve month high of GBX 610 ($7.91). The company has a quick ratio of 0.98, a current ratio of 1.09 and a debt-to-equity ratio of 0.67. The company has a market capitalization of £1.19 billion, a price-to-earnings ratio of 22.77, a PEG ratio of 2.27 and a beta of 0.65.

Insider Activity

In related news, insider Ross Paterson acquired 2,800 shares of Bytes Technology Group stock in a transaction dated Monday, January 20th. The shares were purchased at an average cost of GBX 427 ($5.54) per share, with a total value of £11,956 ($15,503.11). Insiders own 9.51% of the company’s stock.

Bytes Technology Group Company Profile

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