KeyCorp Cuts Bentley Systems (NASDAQ:BSY) Price Target to $54.00

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price target reduced by equities researchers at KeyCorp from $63.00 to $54.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. KeyCorp's price target points to a potential upside of 25.03% from the company's previous close.

A number of other brokerages have also issued reports on BSY. Oppenheimer upgraded shares of Bentley Systems from a "market perform" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Thursday, April 10th. 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 for the company. 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 research note on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 9th. Finally, Mizuho lowered their price objective on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.70.

Bentley Systems Stock Down 0.4 %

Shares of NASDAQ BSY traded down $0.17 during mid-day trading on Wednesday, reaching $43.19. The company had a trading volume of 1,926,511 shares, compared to its average volume of 1,221,141. Bentley Systems has a 52-week low of $36.51 and a 52-week high of $57.19. The stock has a market cap of $12.58 billion, a P/E ratio of 38.91, a PEG ratio of 3.52 and a beta of 1.06. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The firm has a 50 day simple moving average of $42.70 and a two-hundred day simple moving average of $46.17.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 1,152 shares of the business'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 transaction of $53,372.16. Following the sale, the director now directly owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.12% of the stock is owned by insiders.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors have recently bought and sold shares of BSY. Swedbank AB raised its stake in shares of Bentley Systems by 36.5% in the fourth quarter. Swedbank AB now owns 7,007,324 shares of the company's stock valued at $327,242,000 after acquiring an additional 1,873,029 shares during the last quarter. Impax Asset Management Group plc lifted its stake in Bentley Systems by 41.9% in the fourth quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company's stock valued at $115,719,000 after buying an additional 736,369 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its stake in Bentley Systems by 591.7% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company's stock worth $26,446,000 after acquiring an additional 475,361 shares during the last quarter. Sone Capital Management LLC acquired a new position in shares of Bentley Systems in the 4th quarter valued at $17,884,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Bentley Systems by 449.7% during the 1st quarter. SG Americas Securities LLC now owns 384,291 shares of the company's stock valued at $15,118,000 after purchasing an additional 314,387 shares in the last quarter. Institutional investors and hedge funds 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.