Bytes Technology Group (LON:BYIT) Earns “Buy” Rating from Shore Capital

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating restated by Shore Capital in a report released on Friday,London Stock Exchange reports.

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 640 ($7.94) price objective on shares of Bytes Technology Group in a research report on Tuesday, October 15th.

Bytes Technology Group Price Performance

Shares of LON:BYIT opened at GBX 462.20 ($5.73) on Friday. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 3.50. The company has a 50-day moving average price of GBX 437.41 and a 200 day moving average price of GBX 464.67. Bytes Technology Group has a 52 week low of GBX 405 ($5.02) and a 52 week high of GBX 663 ($8.22). The company has a market cap of £1.11 billion, a P/E ratio of 2,432.63, a PEG ratio of 2.27 and a beta of 0.65.

Insider Transactions at Bytes Technology Group

In other news, insider Ross Paterson purchased 2,800 shares of the firm’s stock in a transaction on Monday, January 20th. The shares were bought at an average cost of GBX 427 ($5.29) per share, with a total value of £11,956 ($14,824.55). 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.