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Bytes Technology Group Plc ( (GB:BYIT) ) just unveiled an update.
Bytes Technology Group Plc announced the purchase of 100,000 of its ordinary shares as part of its Share Buyback Programme. The shares were bought at a volume weighted average price of 401.23 GBP per share and will be cancelled, reducing the total number of shares in issue to 239,580,186. This move is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £447.00 price target. To see the full list of analyst forecasts on Bytes Technology Group Plc stock, see the GB:BYIT Stock Forecast page.
Spark’s Take on GB:BYIT Stock
According to Spark, TipRanks’ AI Analyst, GB:BYIT is a Outperform.
Bytes Technology Group’s strong financial performance is the most significant factor, supported by solid revenue growth, profitability, and cash flow management. The valuation is reasonable with a good dividend yield, while technical indicators suggest a neutral outlook. The absence of earnings call and corporate events data does not impact the score.
To see Spark’s full report on GB:BYIT stock, click here.
More about Bytes Technology Group Plc
Bytes Technology Group Plc operates in the technology sector, focusing on providing IT solutions and services. The company has a primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.
Average Trading Volume: 1,163,252
Technical Sentiment Signal: Sell
Current Market Cap: £953M
For detailed information about BYIT stock, go to TipRanks’ Stock Analysis page.