Bentley Systems (NASDAQ:BSY) Downgraded by Oppenheimer to Market Perform

Bentley Systems (NASDAQ:BSY) was downgraded by stock analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

Several other equities research analysts have also commented on the company. JPMorgan Chase & Co. started coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective on the stock. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a research report on Tuesday. Finally, Piper Sandler decreased their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average target price of $57.00.

Bentley Systems Trading Down 2.3 %

NASDAQ BSY opened at $44.62 on Thursday. The company has a fifty day moving average of $46.61 and a 200 day moving average of $48.36. The company has a market capitalization of $12.97 billion, a PE ratio of 40.20, a P/E/G ratio of 3.52 and a beta of 1.03. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19.

Insiders Place Their Bets

In other news, Director Keith A. Bentley sold 1,152 shares of the business’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 of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. 21.12% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in shares of Bentley Systems during the third quarter valued at approximately $30,000. Private Trust Co. NA increased its position in shares of Bentley Systems by 61.1% during 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 in the last quarter. Tobam acquired a new position in Bentley Systems in the 4th quarter valued at $55,000. Atala Financial Inc purchased a new position in Bentley Systems in the 4th quarter valued at $55,000. Finally, Ameriflex Group Inc. acquired a new stake in Bentley Systems during the 4th quarter worth $75,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.