Bentley Systems (NASDAQ:BSY - Get Free Report) was downgraded by equities researchers at The Goldman Sachs Group from a "neutral" rating to a "sell" rating in a report released on Friday, MarketBeat.com reports. They presently have a $42.00 price target on the stock, down from their previous price target of $51.00. The Goldman Sachs Group's price target points to a potential downside of 1.94% from the company's current price.
Other analysts have also recently issued research reports about the company. Rosenblatt Securities restated a "buy" rating and issued a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. Robert W. Baird lowered their price target on Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday. Oppenheimer cut Bentley Systems from an "outperform" rating to a "market perform" rating in a report on Thursday. JPMorgan Chase & Co. began coverage on Bentley Systems in a report on Monday, December 9th. They issued a "neutral" rating and a $52.00 price target for the company. Finally, Piper Sandler lowered their price target on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Bentley Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.14.
Read Our Latest Stock Report on BSY
Bentley Systems Price Performance
Bentley Systems stock traded down $1.07 during midday trading on Friday, reaching $42.83. The company's stock had a trading volume of 1,824,786 shares, compared to its average volume of 1,273,922. Bentley Systems has a fifty-two week low of $42.46 and a fifty-two week high of $57.19. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. The stock's 50 day simple moving average is $46.35 and its 200 day simple moving average is $48.23. The firm has a market capitalization of $12.49 billion, a PE ratio of 38.59, a P/E/G ratio of 3.52 and a beta of 1.03.
Insiders Place Their Bets
In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company's stock in a transaction that occurred on Friday, January 24th. The stock was 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 $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is owned by company insiders.
Hedge Funds Weigh In On Bentley Systems
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in shares of Bentley Systems in the 3rd quarter valued at approximately $30,000. Private Trust Co. NA raised its position in shares of 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 purchasing an additional 378 shares in the last quarter. Tobam acquired a new position in shares of Bentley Systems in the 4th quarter valued at approximately $55,000. Atala Financial Inc acquired a new position in shares of Bentley Systems in the 4th quarter valued at approximately $55,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Bentley Systems in the 4th quarter valued at approximately $75,000. Hedge funds and other institutional investors own 44.16% of the company's stock.
About Bentley Systems
(
Get Free Report)
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.
Further Reading
Before you consider Bentley Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Bentley Systems wasn't on the list.
While Bentley Systems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
