Bentley Systems (NASDAQ:BSY) Sets New 1-Year Low on Analyst Downgrade

Bentley Systems, Incorporated (NASDAQ:BSY)’s stock price hit a new 52-week low on Thursday after Robert W. Baird lowered their price target on the stock from $60.00 to $59.00. Robert W. Baird currently has an outperform rating on the stock. Bentley Systems traded as low as $43.75 and last traded at $43.99, with a volume of 373842 shares. The stock had previously closed at $44.62.

A number of other research analysts also recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Oppenheimer lowered Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. Piper Sandler lowered their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.29.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now owns 16,705,028 shares of the company’s stock, valued at $779,623,656.76. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in Bentley Systems during the 3rd quarter worth approximately $30,000. Private Trust Co. NA increased its holdings in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after purchasing an additional 378 shares during the period. Tobam purchased a new stake in shares of Bentley Systems in the fourth quarter worth $55,000. Atala Financial Inc bought a new stake in Bentley Systems during the fourth quarter valued at $55,000. Finally, Ameriflex Group Inc. bought a new stake in Bentley Systems during the fourth quarter valued at $75,000. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Performance

The company has a 50-day moving average of $46.61 and a 200 day moving average of $48.36. The firm has a market capitalization of $12.83 billion, a PE ratio of 39.80, a PEG ratio of 3.52 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Bentley Systems Company Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.