The Goldman Sachs Group Downgrades Bentley Systems (NASDAQ:BSY) to Sell

Bentley Systems (NASDAQ:BSY) was downgraded by The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. They currently have a $42.00 target price on the stock, down from their prior target price of $51.00. The Goldman Sachs Group’s price target points to a potential downside of 4.63% from the stock’s previous close.

A number of other research firms also recently commented on BSY. Rosenblatt Securities reaffirmed a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research note on Tuesday. Piper Sandler decreased their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird dropped their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. started coverage on Bentley Systems in a research report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Price Performance

BSY stock opened at $44.04 on Friday. The stock has a market capitalization of $12.80 billion, a price-to-earnings ratio of 39.68, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems has a 52-week low of $43.75 and a 52-week high of $57.19. The stock’s fifty day simple moving average is $46.54 and its 200-day simple moving average is $48.33.

Insider Activity at Bentley Systems

In other news, Director Keith A. Bentley sold 69,573 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value 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 represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of institutional investors have recently added to or reduced their stakes in BSY. Intech Investment Management LLC increased its position in shares of Bentley Systems by 3.6% during the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after acquiring an additional 254 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Bentley Systems by 3.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 10,035 shares of the company’s stock worth $469,000 after purchasing an additional 317 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Bentley Systems by 7.2% in the 4th quarter. Quantinno Capital Management LP now owns 5,261 shares of the company’s stock valued at $246,000 after purchasing an additional 354 shares in the last quarter. Prudential PLC boosted its stake in shares of Bentley Systems by 0.6% during the 4th quarter. Prudential PLC now owns 63,008 shares of the company’s stock valued at $2,942,000 after buying an additional 371 shares during the last quarter. Finally, CIBC Asset Management Inc grew its position in shares of Bentley Systems by 4.3% during the third quarter. CIBC Asset Management Inc now owns 9,203 shares of the company’s stock worth $468,000 after buying an additional 378 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.