Oppenheimer Downgrades Bentley Systems (NASDAQ:BSY) to Market Perform

Bentley Systems (NASDAQ:BSY) was downgraded by analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday,Briefing.com Automated Import reports.

Several other equities research analysts have also recently issued reports on the stock. Piper Sandler cut their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price objective on shares of Bentley Systems in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and an average price target of $57.00.

Bentley Systems Price Performance

NASDAQ:BSY opened at $44.62 on Thursday. The stock has a 50 day moving average price of $46.61 and a 200 day moving average price of $48.36. The stock has a market cap of $12.97 billion, a PE ratio of 40.20, a P/E/G ratio of 3.52 and a beta of 1.03. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems has a one year low of $43.82 and a one year high of $57.19.

Insider Activity at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $46.33, for a total transaction of $53,372.16. Following the sale, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 21.12% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems during the third quarter worth about $30,000. Private Trust Co. NA grew its stake in Bentley Systems by 61.1% during the 4th quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after buying an additional 378 shares during the last quarter. Tobam acquired a new position in Bentley Systems during the fourth quarter worth approximately $55,000. Atala Financial Inc purchased a new stake in Bentley Systems in the fourth quarter valued at approximately $55,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.