Rosenblatt Securities Reaffirms Buy Rating for Bentley Systems (NASDAQ:BSY)

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research report issued on Tuesday,Benzinga reports. They presently have a $62.00 target price on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 38.95% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Piper Sandler cut their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus target price of $57.00.

Bentley Systems Stock Down 2.3 %

Shares of BSY stock opened at $44.62 on Tuesday. The firm has a fifty day moving average of $46.61 and a 200-day moving average of $48.36. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 40.20, a P/E/G ratio of 3.52 and a beta of 1.03.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This trade represents a 0.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Several hedge funds have recently bought and sold shares of the company. Swedbank AB increased 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 buying an additional 1,873,029 shares during the period. Pictet Asset Management Holding SA boosted its position in Bentley Systems by 0.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,614,750 shares of the company’s stock worth $262,209,000 after buying an additional 24,019 shares during the period. Impax Asset Management Group plc boosted its position in Bentley Systems by 41.9% during the 4th quarter. Impax Asset Management Group plc now owns 2,493,059 shares of the company’s stock worth $115,719,000 after buying an additional 736,369 shares during the period. AXA S.A. boosted its position in Bentley Systems by 7.6% during the 4th quarter. AXA S.A. now owns 1,603,157 shares of the company’s stock worth $74,867,000 after buying an additional 112,824 shares during the period. Finally, Northern Trust Corp boosted its position in Bentley Systems by 18.9% during the 4th quarter. Northern Trust Corp now owns 1,439,065 shares of the company’s stock worth $67,204,000 after buying an additional 228,502 shares during the period. 44.16% of the stock is owned by institutional investors.

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.