Rosenblatt Securities Reiterates Buy Rating for Bentley Systems (NASDAQ:BSY)

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reissued by equities researchers at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $62.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential upside of 33.57% from the stock’s current price.

Several other analysts also recently commented on the company. JPMorgan Chase & Co. started coverage on Bentley Systems in a research note on Monday, December 9th. They issued a “neutral” rating and a $52.00 price objective for the company. Piper Sandler lowered their price target on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.00.

Bentley Systems Stock Up 1.8 %

Shares of NASDAQ BSY opened at $46.42 on Tuesday. 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 company has a 50-day moving average price of $46.72 and a 200-day moving average price of $48.41. The stock has a market capitalization of $13.49 billion, a P/E ratio of 41.82, a P/E/G 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.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the business’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the transaction, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. The trade was a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 21.12% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

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