Robert W. Baird Has Lowered Expectations for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its price objective lowered by Robert W. Baird from $60.00 to $59.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 32.31% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Oppenheimer downgraded shares of Bentley Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday. Piper Sandler cut their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $57.29.

Bentley Systems Stock Performance

NASDAQ BSY opened at $44.59 on Thursday. The firm has a market cap of $12.96 billion, a price-to-earnings ratio of 40.17, a PEG ratio of 3.52 and a beta of 1.03. Bentley Systems has a 1 year low of $43.82 and a 1 year high of $57.19. The company has a fifty day moving average price of $46.61 and a 200-day moving average price of $48.36. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.52 and a quick ratio of 0.52.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the firm’s stock in a transaction 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 transaction, the director now 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 filing with the SEC, which can be accessed through this link. Insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSY. Swedbank AB lifted its position in Bentley Systems by 36.5% during the fourth 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. Impax Asset Management Group plc purchased a new position in shares of Bentley Systems in the 3rd quarter worth about $88,771,000. Fiera Capital Corp purchased a new position in shares of Bentley Systems in the 3rd quarter worth about $42,773,000. Skandinaviska Enskilda Banken AB publ raised its position in shares of Bentley Systems by 591.7% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 555,702 shares of the company’s stock worth $26,446,000 after purchasing an additional 475,361 shares during the last quarter. Finally, Sone Capital Management LLC purchased a new position in shares of Bentley Systems in the 4th quarter worth about $17,884,000. Hedge funds and other 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.