Bentley Systems (NASDAQ:BSY) Earns Buy Rating from Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating restated by Rosenblatt Securities in a report issued on Friday,Benzinga reports. They currently have a $62.00 price objective on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 27.62% from the stock’s current price.

Several other equities research analysts also recently weighed in on BSY. The Goldman Sachs Group decreased their price target on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research note on Wednesday, August 7th. Finally, Piper Sandler boosted their price target on shares of Bentley Systems from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.50.

Bentley Systems Stock Down 4.9 %

BSY opened at $48.58 on Friday. Bentley Systems has a 52 week low of $43.82 and a 52 week high of $57.19. The business has a 50 day moving average price of $49.48 and a two-hundred day moving average price of $50.38. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The company has a market cap of $14.12 billion, a PE ratio of 42.61, a P/E/G ratio of 4.17 and a beta of 1.04.

Insider Activity

In related news, Director Raymond B. Bentley sold 91,045 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now owns 16,598,656 shares in the company, valued at $820,471,566.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Raymond B. Bentley sold 91,045 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $49.43, for a total value of $4,500,354.35. Following the sale, the director now directly owns 16,598,656 shares in the company, valued at $820,471,566.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barry J. Bentley sold 34,987 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $48.37, for a total transaction of $1,692,321.19. Following the transaction, the director now owns 12,213,248 shares of the company’s stock, valued at $590,754,805.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 326,032 shares of company stock worth $16,168,176. Company insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of BSY. Allspring Global Investments Holdings LLC lifted its position in shares of Bentley Systems by 4,618.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 519 shares of the company’s stock valued at $26,000 after acquiring an additional 508 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Bentley Systems by 90.1% during the 2nd quarter. GAMMA Investing LLC now owns 576 shares of the company’s stock worth $28,000 after purchasing an additional 273 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Bentley Systems by 68,500.0% during the second quarter. Blue Trust Inc. now owns 686 shares of the company’s stock worth $36,000 after buying an additional 685 shares in the last quarter. Central Pacific Bank Trust Division raised its position in shares of Bentley Systems by 57.1% in the third quarter. Central Pacific Bank Trust Division now owns 759 shares of the company’s stock valued at $39,000 after buying an additional 276 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in shares of Bentley Systems by 75.4% during the second quarter. Tortoise Investment Management LLC now owns 833 shares of the company’s stock valued at $41,000 after buying an additional 358 shares during the period. Institutional investors and hedge funds 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.