Bentley Systems, Incorporated (NASDAQ:BSY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been given an average rating of “Moderate Buy” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $57.00.

A number of brokerages recently issued reports on BSY. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday. Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. began 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.

Insider Buying and Selling at Bentley Systems

In other news, Director Keith A. Bentley sold 1,152 shares of the firm’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 transaction, the director now directly owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 21.12% of the company’s stock.

Institutional Inflows and Outflows

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

Bentley Systems Trading Down 2.0 %

Shares of BSY stock opened at $45.68 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems has a 52-week low of $43.82 and a 52-week high of $57.19. The company has a market capitalization of $13.28 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The business’s fifty day moving average is $46.67 and its 200 day moving average is $48.39.

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.