The Goldman Sachs Group Downgrades Bentley Systems (NASDAQ:BSY) to Sell

Bentley Systems (NASDAQ:BSY) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Friday, Marketbeat.com reports. They currently have a $42.00 target price on the stock, down from their previous target price of $51.00. The Goldman Sachs Group’s price objective would indicate a potential downside of 4.33% from the company’s previous close.

A number of other research firms also recently commented on BSY. 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. Robert W. Baird decreased their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. assumed coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Stock Down 0.3 %

Shares of Bentley Systems stock opened at $43.90 on Friday. The business has a 50-day moving average of $46.46 and a 200-day moving average of $48.29. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market capitalization of $12.80 billion, a PE ratio of 39.55, a P/E/G ratio of 3.52 and a beta of 1.03. Bentley Systems has a 1-year low of $42.46 and a 1-year high of $57.19.

Insiders Place Their Bets

In other 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 sale, the director now owns 16,703,876 shares of the company’s stock, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bentley Systems

A number of hedge funds have recently made changes to their positions in the business. Ameriflex Group Inc. bought a new stake in shares of Bentley Systems during the fourth quarter valued at approximately $75,000. Cache Advisors LLC bought a new stake in shares of Bentley Systems during the fourth quarter valued at approximately $293,000. Voloridge Investment Management LLC raised its holdings in Bentley Systems by 187.6% during the fourth quarter. Voloridge Investment Management LLC now owns 324,175 shares of the company’s stock worth $15,139,000 after purchasing an additional 211,476 shares in the last quarter. Woodline Partners LP raised its holdings in Bentley Systems by 10.9% during the fourth quarter. Woodline Partners LP now owns 435,267 shares of the company’s stock worth $20,327,000 after purchasing an additional 42,931 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in Bentley Systems by 30.0% during the fourth quarter. Vident Advisory LLC now owns 10,235 shares of the company’s stock worth $478,000 after purchasing an additional 2,360 shares in the last quarter. 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.