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An update from Bytes Technology Group Plc ( (GB:BYIT) ) is now available.
Bytes Technology Group Plc announced the purchase of 107,500 of its own ordinary shares as part of a previously announced share buyback program. The shares were acquired at an average price of 371.59 GBP and will be canceled, reducing the total number of shares in issue to 237,731,107. This move is part of the company’s strategy to enhance shareholder value by reducing the number of shares outstanding.
The most recent analyst rating on (GB:BYIT) stock is a Buy with a £415.00 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 is primarily listed on the London Stock Exchange and has a secondary listing on the Johannesburg Stock Exchange.
Average Trading Volume: 1,074,043
Technical Sentiment Signal: Sell
Current Market Cap: £879.5M
Learn more about BYIT stock on TipRanks’ Stock Analysis page.