Berenberg Bank reaffirmed their buy rating on shares of Bytes Technology Group (LON:BYIT - Free Report) in a research report report published on Tuesday morning, MarketBeat reports. Berenberg Bank currently has a GBX 640 ($8.36) price objective on the stock.
Separately, Shore Capital reiterated a "buy" rating on shares of Bytes Technology Group in a report on Tuesday.
Read Our Latest Research Report on Bytes Technology Group
Bytes Technology Group Trading Up 3.6 %
BYIT traded up GBX 17 ($0.22) on Tuesday, reaching GBX 490.80 ($6.41). 1,146,521 shares of the company traded hands, compared to its average volume of 866,969. The company has a market cap of £1.18 billion, a P/E ratio of 2,583.16, a price-to-earnings-growth ratio of 2.27 and a beta of 0.65. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 3.50. Bytes Technology Group has a one year low of GBX 433.80 ($5.66) and a one year high of GBX 665 ($8.68). The firm has a fifty day simple moving average of GBX 483.96 and a two-hundred day simple moving average of GBX 507.03.
Bytes Technology Group Cuts Dividend
The business also recently announced a dividend, which will be paid on Friday, November 22nd. Shareholders of record on Thursday, November 7th will be paid a GBX 3.10 ($0.04) dividend. The ex-dividend date is Thursday, November 7th. This represents a yield of 0.65%. Bytes Technology Group's dividend payout ratio (DPR) is presently 4,736.84%.
Insider Buying and Selling
In other Bytes Technology Group news, insider Sam Mudd bought 5,000 shares of the company's stock in a transaction that occurred on Thursday, August 1st. The shares were purchased at an average cost of GBX 506 ($6.61) per share, for a total transaction of £25,300 ($33,037.35). 9.51% of the stock is currently owned by company insiders.
About Bytes Technology Group
(
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Bytes Technology Group plc offers software, IT security, hardware, and cloud services in the United Kingdom, rest of Europe, and internationally. The company sells servers, laptops, and other devices; various cloud-based and non-cloud-based licenses; and externally and internally provided training and consulting services.
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