Bentley Systems (NASDAQ:BSY) Lowered to “Market Perform” Rating by Oppenheimer

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

BSY has been the subject of several other research reports. Rosenblatt Securities reissued a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Tuesday. JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Finally, Piper Sandler lowered their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Stock Down 0.3 %

BSY stock opened at $43.90 on Thursday. The company has a market cap of $12.76 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The business has a 50-day simple moving average of $46.46 and a 200 day simple moving average of $48.30. Bentley Systems has a 52 week low of $42.46 and a 52 week high of $57.19. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction dated 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. Company insiders own 21.12% of the company’s stock.

Institutional Trading of Bentley Systems

Institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Bentley Systems by 20.5% in the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock valued at $10,396,000 after acquiring an additional 34,871 shares during the last quarter. Bar Harbor Wealth Management bought a new stake in Bentley Systems in the fourth quarter valued at approximately $8,413,000. Needham Investment Management LLC bought a new stake in Bentley Systems in the third quarter valued at approximately $2,134,000. Mirabella Financial Services LLP boosted its holdings in Bentley Systems by 1,155.0% in the third quarter. Mirabella Financial Services LLP now owns 100,800 shares of the company’s stock valued at $5,018,000 after acquiring an additional 92,768 shares during the last quarter. Finally, Montanaro Asset Management Ltd boosted its holdings in Bentley Systems by 8.8% in the third quarter. Montanaro Asset Management Ltd now owns 331,416 shares of the company’s stock valued at $16,839,000 after acquiring an additional 26,741 shares during the last quarter. 44.16% of the stock is currently owned by 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.