Bentley Systems (NASDAQ:BSY) Upgraded at Oppenheimer

Bentley Systems (NASDAQ:BSY) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a report issued on Thursday, Marketbeat reports. The brokerage presently has a $49.00 price objective on the stock. Oppenheimer’s target price would suggest a potential upside of 16.95% from the company’s previous close.

A number of other equities analysts also recently commented on BSY. The Goldman Sachs Group downgraded shares of Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $51.00 to $42.00 in a research note on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Tuesday, February 25th. UBS Group assumed coverage on Bentley Systems in a research note on Monday, March 31st. They issued a “neutral” rating and a $48.00 price objective on the stock. Piper Sandler cut their target price 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. Finally, Robert W. Baird dropped their price target on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.67.

Bentley Systems Stock Up 0.7 %

NASDAQ:BSY opened at $41.90 on Thursday. The company has a market cap of $12.22 billion, a PE ratio of 37.75, a PEG ratio of 3.52 and a beta of 1.06. Bentley Systems has a 52-week low of $36.51 and a 52-week high of $57.19. The stock has a 50-day simple moving average of $43.04 and a 200 day simple moving average of $46.40. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52.

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 1,152 shares of Bentley Systems 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.12% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bentley Systems

Institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after acquiring an additional 378 shares during the period. Tobam purchased a new position in Bentley Systems during the fourth quarter worth about $55,000. Atala Financial Inc purchased a new position in shares of Bentley Systems in the 4th quarter worth approximately $55,000. Ameriflex Group Inc. purchased a new position in Bentley Systems in the fourth quarter worth $75,000. Finally, Tortoise Investment Management LLC boosted its holdings in shares of Bentley Systems by 76.9% in the 4th quarter. Tortoise Investment Management LLC now owns 1,675 shares of the company’s stock worth $78,000 after buying an additional 728 shares during the last quarter. 44.16% of the stock is owned by institutional investors.

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.