Oppenheimer Downgrades Bentley Systems (NASDAQ:BSY) to Market Perform

Bentley Systems (NASDAQ:BSY - Get Free Report) was downgraded by research analysts at Oppenheimer from an "outperform" rating to a "market perform" rating in a research note issued to investors on Thursday, Marketbeat reports.

Several other research firms also recently weighed in on BSY. Piper Sandler dropped their price target 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. Rosenblatt Securities reiterated a "buy" rating and issued a $62.00 target price on shares of Bentley Systems in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a "neutral" rating and a $52.00 price target for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $56.14.

Bentley Systems Stock Performance

Shares of BSY traded down $1.07 during trading hours on Thursday, reaching $42.83. 1,819,732 shares of the company traded hands, compared to its average volume of 1,273,796. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The business has a fifty day moving average price of $46.46 and a 200-day moving average price of $48.28. Bentley Systems has a 12-month low of $42.46 and a 12-month high of $57.19. The stock has a market capitalization of $12.49 billion, a P/E ratio of 38.59, a P/E/G ratio of 3.52 and a beta of 1.03.

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Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the transaction, the director now owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 21.12% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in Bentley Systems in the third quarter valued at approximately $30,000. Private Trust Co. NA grew its stake in Bentley Systems by 61.1% in the 4th quarter. Private Trust Co. NA now owns 997 shares of the company's stock valued at $47,000 after acquiring an additional 378 shares during the period. Tobam purchased a new stake in Bentley Systems in the 4th quarter worth $55,000. Atala Financial Inc acquired a new position in Bentley Systems during the fourth quarter worth $55,000. Finally, Ameriflex Group Inc. purchased a new position in Bentley Systems during the fourth quarter valued at $75,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

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.