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

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

Several other research firms have also commented on BSY. Oppenheimer boosted their price objective on shares of Bentley Systems from $49.00 to $50.00 and gave the stock an "outperform" rating in a research note on Thursday, May 8th. Rosenblatt Securities lowered their price objective on shares of Bentley Systems from $62.00 to $53.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. 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 report on Wednesday, April 9th. UBS Group increased their price target on shares of Bentley Systems from $48.00 to $53.00 and gave the stock a "neutral" rating in a research report on Thursday, May 8th. Finally, Mizuho decreased their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.20.

Bentley Systems Stock Performance

BSY traded down $0.07 on Wednesday, hitting $57.44. The company's stock had a trading volume of 555,412 shares, compared to its average volume of 1,266,277. The company's 50 day simple moving average is $50.78 and its 200-day simple moving average is $46.38. The firm has a market cap of $16.76 billion, a P/E ratio of 72.76, a price-to-earnings-growth ratio of 4.67 and a beta of 1.09. Bentley Systems has a 12 month low of $36.51 and a 12 month high of $57.98. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.13.

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

Insider Activity

In related news, Director Raymond B. Bentley sold 122,114 shares of Bentley Systems 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 completion of the sale, the director owned 15,347,424 shares in the company, valued at $778,114,396.80. This trade represents a 0.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of Bentley Systems stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. The trade was a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,201,832 shares of company stock worth $61,414,013 over the last 90 days. Insiders own 20.56% of the company's stock.

Institutional Investors Weigh In On Bentley Systems

Large investors have recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in shares of Bentley Systems in the 4th quarter worth approximately $809,000. Intech Investment Management LLC grew its position in shares of Bentley Systems by 3.6% in the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company's stock worth $340,000 after buying an additional 254 shares during the last quarter. Xponance Inc. grew its position in Bentley Systems by 3.2% during the 4th quarter. Xponance Inc. now owns 29,769 shares of the company's stock worth $1,390,000 after purchasing an additional 935 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Bentley Systems during the 4th quarter worth approximately $3,867,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Bentley Systems during the 4th quarter worth approximately $2,363,000. Institutional investors 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.