Bytes Technology Group (LON:BYIT) Upgraded at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Bytes Technology Group (LON:BYIT) to a buy rating in a research note issued to investors on Wednesday,Digital Look reports. The firm currently has GBX 500 target price on the stock, up from their previous target price of GBX 410.

A number of other brokerages also recently commented on BYIT. UBS Group restated a “neutral” rating and issued a GBX 305 target price on shares of Bytes Technology Group in a research note on Monday, May 11th. Jefferies Financial Group lifted their price target on Bytes Technology Group from £3,200 to £3,700 and gave the company a “hold” rating in a research report on Thursday, June 25th. Finally, Berenberg Bank decreased their price target on Bytes Technology Group from GBX 390 to GBX 360 and set a “hold” rating for the company in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of £620.36.

Bytes Technology Group Price Performance

Shares of BYIT opened at GBX 438.60 on Wednesday. The business’s 50-day moving average is GBX 407.33 and its two-hundred day moving average is GBX 348.69. The company has a market capitalization of £1.02 billion, a P/E ratio of 21.15, a P/E/G ratio of 2.27 and a beta of 0.71. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.98 and a current ratio of 1.05. Bytes Technology Group has a fifty-two week low of GBX 232.92 and a fifty-two week high of GBX 443.40.

Insider Transactions at Bytes Technology Group

In other Bytes Technology Group news, insider Gavin Rochussen purchased 100,000 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was purchased at an average price of GBX 416 per share, for a total transaction of £416,000. Also, insider Sam Mudd purchased 25,000 shares of Bytes Technology Group stock in a transaction that occurred on Monday, July 13th. The stock was acquired at an average cost of GBX 413 per share, with a total value of £103,250. 3.34% of the stock is owned by company insiders.

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.