Robert W. Baird Issues Pessimistic Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its price target lowered by Robert W. Baird from $60.00 to $59.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 34.40% from the company’s current price.

A number of other research analysts also recently weighed in on the company. Piper Sandler decreased their price target 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. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research note on Tuesday. Finally, JPMorgan Chase & Co. began 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.14.

Bentley Systems Stock Down 0.3 %

BSY stock opened at $43.90 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. The business has a 50 day moving average price of $46.46 and a two-hundred day moving average price of $48.30. The company has a market cap of $12.76 billion, a price-to-earnings ratio of 39.55, a P/E/G ratio of 3.52 and a beta of 1.03. Bentley Systems has a twelve month low of $42.46 and a twelve month high of $57.19.

Insider Buying and Selling

In related news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems stock in a transaction that occurred on Friday, January 24th. The stock was 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 21.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB raised its holdings in Bentley Systems by 36.5% in the 4th quarter. Swedbank AB now owns 7,007,324 shares of the company’s stock valued at $327,242,000 after acquiring an additional 1,873,029 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Bentley Systems by 0.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock valued at $262,209,000 after acquiring an additional 24,019 shares in the last quarter. Impax Asset Management Group plc raised its holdings in Bentley Systems by 41.9% in the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock valued at $115,719,000 after acquiring an additional 736,369 shares in the last quarter. AXA S.A. raised its holdings in Bentley Systems by 7.6% in the 4th quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock valued at $74,867,000 after acquiring an additional 112,824 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Bentley Systems by 18.9% in the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock valued at $67,204,000 after acquiring an additional 228,502 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.