Bentley Systems (NASDAQ:BSY) Lowered to "Hold" Rating by Wall Street Zen

Bentley Systems (NASDAQ:BSY - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Monday.

Several other equities analysts have also commented on the stock. Oppenheimer increased their price objective on shares of Bentley Systems from $49.00 to $50.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Royal Bank Of Canada lifted their price objective on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. KeyCorp upped their target price on Bentley Systems from $54.00 to $56.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. reduced their target price on Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, Mizuho lowered their price target on Bentley Systems from $60.00 to $50.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $52.00.

Bentley Systems Stock Performance

Shares of BSY stock opened at $52.64 on Monday. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $53.29. The business's fifty day simple moving average is $47.55 and its 200-day simple moving average is $45.61. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The company has a market cap of $15.36 billion, a PE ratio of 66.63, a PEG ratio of 4.42 and a beta of 1.07.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.05. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company had revenue of $370.54 million for the quarter, compared to analyst estimates of $366.76 million. During the same period in the prior year, the company posted $0.31 EPS. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. Analysts expect that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insider Transactions at Bentley Systems

In other news, Director Raymond B. Bentley sold 122,114 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the sale, the director now directly owns 15,347,424 shares of the company's stock, valued at $778,114,396.80. This represents a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Brock Ballard sold 12,363 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $45.08, for a total value of $557,324.04. Following the sale, the executive now owns 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,012,363 shares of company stock worth $50,872,826 over the last quarter. 20.56% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of BSY. Intech Investment Management LLC grew its holdings in Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock valued at $340,000 after purchasing an additional 254 shares during the period. Axxcess Wealth Management LLC grew its stake in Bentley Systems by 3.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company's stock valued at $333,000 after acquiring an additional 301 shares during the period. Prentiss Smith & Co. Inc. grew its stake in Bentley Systems by 0.5% in the 1st quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company's stock valued at $2,524,000 after acquiring an additional 315 shares during the period. Venturi Wealth Management LLC increased its holdings in Bentley Systems by 3.5% in the 1st quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company's stock worth $371,000 after acquiring an additional 315 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in Bentley Systems by 3.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company's stock worth $469,000 after acquiring an additional 317 shares during the period. Institutional investors and hedge funds 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.

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