Bytes Technology Group’s (BYIT) Buy Rating Reaffirmed at Peel Hunt

Peel Hunt reiterated their buy rating on shares of Bytes Technology Group (LON:BYIT – Get Rating) in a research report report published on Tuesday morning, MarketBeat.com reports. They currently have a GBX 489 ($6.08) target price on the stock.

Separately, Jefferies Financial Group reiterated a buy rating and set a GBX 480 ($5.97) price objective on shares of Bytes Technology Group in a research note on Friday, March 24th.

Bytes Technology Group Trading Up 0.3 %

LON BYIT opened at GBX 450 ($5.60) on Tuesday. The stock has a market capitalization of £1.08 billion, a price-to-earnings ratio of 3,214.29, a PEG ratio of 2.27 and a beta of 0.86. The stock’s 50 day moving average price is GBX 403.61 and its two-hundred day moving average price is GBX 402.36. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.98 and a current ratio of 0.99. Bytes Technology Group has a 52 week low of GBX 353.40 ($4.40) and a 52 week high of GBX 478.60 ($5.95).

Bytes Technology Group Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, August 4th. Stockholders of record on Thursday, July 20th will be paid a dividend of GBX 12.60 ($0.16) per share. The ex-dividend date is Thursday, July 20th. This represents a dividend yield of 2.81%. This is a boost from Bytes Technology Group’s previous dividend of $2.40. Bytes Technology Group’s dividend payout ratio is currently 5,000.00%.

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.