JPMorgan Chase & Co. Lowers Bentley Systems (NASDAQ:BSY) Price Target to $45.00

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $52.00 to $45.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 6.08% from the company's current price.

A number of other research firms have also commented on BSY. UBS Group began coverage on Bentley Systems in a research report on Monday, March 31st. They issued a "neutral" rating and a $48.00 price target on the stock. Piper Sandler reduced their target price on Bentley Systems from $65.00 to $57.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Robert W. Baird lowered their price target on shares of Bentley Systems from $60.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group cut Bentley Systems from a "neutral" rating to a "sell" rating and cut their price target for the stock from $51.00 to $42.00 in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Bentley Systems has a consensus rating of "Moderate Buy" and a consensus target price of $53.67.

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Bentley Systems Trading Up 1.2 %

NASDAQ BSY traded up $0.52 on Wednesday, hitting $42.42. The company's stock had a trading volume of 490,962 shares, compared to its average volume of 1,270,920. The firm has a market cap of $12.37 billion, a PE ratio of 38.22, a PEG ratio of 3.52 and a beta of 1.06. The company's 50-day moving average is $43.04 and its 200 day moving average is $46.37. 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 has a 1-year low of $36.51 and a 1-year high of $57.19.

Insider Activity at Bentley Systems

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

Institutional Investors Weigh In On Bentley Systems

Several large investors have recently modified their holdings of BSY. Swedbank AB increased its position in Bentley Systems by 36.5% in the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company's stock worth $327,242,000 after buying an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc boosted its position in Bentley Systems by 41.9% during the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock worth $115,719,000 after purchasing an additional 736,369 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in shares of Bentley Systems by 591.7% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock worth $26,446,000 after purchasing an additional 475,361 shares in the last quarter. Sone Capital Management LLC bought a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $17,884,000. Finally, BLI Banque de Luxembourg Investments bought a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $14,929,000. Hedge funds and other institutional investors own 44.16% of the company's stock.

About Bentley Systems

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.