Bentley Systems, Incorporated (NASDAQ:BSY) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Bentley Systems, Incorporated (NASDAQ:BSY) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $57.00.

Several brokerages have commented on BSY. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Piper Sandler lowered their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Tuesday.

Insider Activity

In other news, Director Keith A. Bentley sold 69,573 shares of Bentley Systems stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares in the company, valued at approximately $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Several large investors have recently made changes to their positions in BSY. Swedbank AB lifted its holdings in shares of Bentley Systems by 24.2% during the third quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after purchasing an additional 1,000,000 shares during the last quarter. Forsta AP Fonden raised its holdings in Bentley Systems by 2.0% in the 3rd quarter. Forsta AP Fonden now owns 104,300 shares of the company’s stock worth $5,299,000 after acquiring an additional 2,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Bentley Systems by 94.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $584,000 after acquiring an additional 5,596 shares during the last quarter. Asahi Life Asset Management CO. LTD. raised its holdings in Bentley Systems by 20.8% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 7,210 shares of the company’s stock worth $366,000 after acquiring an additional 1,240 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its holdings in Bentley Systems by 2.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock worth $993,000 after acquiring an additional 428 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Down 2.0 %

NASDAQ BSY opened at $45.68 on Wednesday. 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 stock has a market capitalization of $13.28 billion, a PE ratio of 41.15, 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 business’s 50-day moving average is $46.67 and its 200 day moving average is $48.39.

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.