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

Bytes Technology Group (LON:BYIT) had its price objective raised by Berenberg Bank from GBX 640 ($8.30) to GBX 660 ($8.56) in a research note published on Tuesday, 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 report on Tuesday.

Bytes Technology Group Stock Performance

Shares of BYIT opened at GBX 490 ($6.35) on Tuesday. 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 has a one year low of GBX 400 ($5.19) and a one year high of GBX 610 ($7.91). The company has a 50-day simple moving average of GBX 439.24 and a two-hundred day simple moving average of GBX 454.88. The firm has a market capitalization of £1.19 billion, a PE ratio of 22.77, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65.

Insider Activity

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

About Bytes Technology Group

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.