Bentley Systems (NASDAQ:BSY) Price Target Lowered to $50.00 at Rosenblatt Securities

Bentley Systems (NASDAQ:BSY) had its price objective cut by Rosenblatt Securities from $58.00 to $50.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also recently issued research reports about the company. Barclays dropped their price objective on Bentley Systems from $57.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Monday, January 12th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, January 21st. Robert W. Baird set a $55.00 price target on shares of Bentley Systems in a research report on Wednesday, January 7th. BMO Capital Markets began coverage on Bentley Systems in a research report on Thursday, January 22nd. They issued an “outperform” rating and a $48.00 price target for the company. Finally, JPMorgan Chase & Co. cut their target price on Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Bentley Systems Stock Performance

BSY stock opened at $32.34 on Tuesday. Bentley Systems has a twelve month low of $30.97 and a twelve month high of $59.25. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 38.50, a PEG ratio of 2.23 and a beta of 1.21. The business’s fifty day simple moving average is $36.97 and its two-hundred day simple moving average is $44.97. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

Institutional Trading of Bentley Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in shares of Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares during the last quarter. Ethic Inc. purchased a new position in shares of Bentley Systems during the 2nd quarter valued at about $743,000. Sumitomo Mitsui Trust Group Inc. raised its position in Bentley Systems by 3.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 334,382 shares of the company’s stock valued at $18,047,000 after acquiring an additional 11,008 shares in the last quarter. Wealthfront Advisers LLC lifted its holdings in Bentley Systems by 14.8% in the second quarter. Wealthfront Advisers LLC now owns 10,993 shares of the company’s stock valued at $593,000 after acquiring an additional 1,419 shares during the period. Finally, Bessemer Group Inc. boosted its position in Bentley Systems by 3.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after purchasing an additional 68,155 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors and hedge funds.

About Bentley Systems

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.