Bentley Systems (NASDAQ:BSY) Stock Rating Lowered by Wall Street Zen

Bentley Systems (NASDAQ:BSY) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

BSY has been the subject of several other reports. KeyCorp increased their price target on Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a report on Monday, July 7th. Royal Bank Of Canada increased their target price on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, May 8th. Mizuho dropped their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. UBS Group boosted their price target on Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $52.30.

Bentley Systems Trading Up 0.8%

Shares of BSY stock opened at $57.43 on Wednesday. The company has a market capitalization of $16.76 billion, a price-to-earnings ratio of 72.70, a PEG ratio of 4.63 and a beta of 1.09. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The firm has a 50-day moving average price of $50.56 and a 200 day moving average price of $46.30. Bentley Systems has a twelve month low of $36.51 and a twelve month high of $57.53.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to analysts’ expectations of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. Research analysts forecast that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 150,000 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director directly owned 3,859,327 shares in the company, valued at approximately $214,347,021.58. The trade was a 3.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Raymond B. Bentley sold 355,103 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the sale, the director owned 15,992,321 shares of the company’s stock, valued at $798,976,357.16. This trade represents a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,201,832 shares of company stock worth $61,414,013. Insiders own 20.56% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC raised its position in Bentley Systems by 3.6% during the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after buying an additional 254 shares during the period. Axxcess Wealth Management LLC increased its holdings in shares of Bentley Systems by 3.7% in the 1st quarter. Axxcess Wealth Management LLC now owns 8,471 shares of the company’s stock valued at $333,000 after purchasing an additional 301 shares during the period. Prentiss Smith & Co. Inc. lifted its position in shares of Bentley Systems by 0.5% in the first quarter. Prentiss Smith & Co. Inc. now owns 64,171 shares of the company’s stock worth $2,524,000 after purchasing an additional 315 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Bentley Systems by 3.5% during the first quarter. Venturi Wealth Management LLC now owns 9,438 shares of the company’s stock worth $371,000 after purchasing an additional 315 shares during the period. Finally, Thrive Wealth Management LLC grew its position in Bentley Systems by 4.1% during the second quarter. Thrive Wealth Management LLC now owns 8,101 shares of the company’s stock valued at $437,000 after purchasing an additional 316 shares in the last quarter. 44.16% of the stock is owned by institutional investors and hedge funds.

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.