Bentley Systems (NASDAQ:BSY) Given New $59.00 Price Target at Robert W. Baird

Bentley Systems (NASDAQ:BSY) had its target price cut by stock analysts at Robert W. Baird from $60.00 to $59.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target suggests a potential upside of 34.40% from the stock’s previous close.

BSY has been the subject of a number of other research reports. Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. JPMorgan Chase & Co. started coverage on Bentley Systems in a report on Monday, December 9th. They set a “neutral” rating and a $52.00 price target 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 report on Wednesday, January 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday. 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $56.14.

Bentley Systems Price Performance

Bentley Systems stock opened at $43.90 on Thursday. 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 52 week low of $42.46 and a 52 week high of $57.19. The stock has a market capitalization of $12.76 billion, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The stock has a fifty day moving average of $46.46 and a 200-day moving average of $48.30.

Insider Buying and Selling

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now owns 16,703,876 shares in the company, valued at approximately $773,890,575.08. The trade was a 0.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 21.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bentley Systems

A number of institutional investors have recently made changes to their positions in BSY. Swedbank AB grew its position in shares of Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock valued at $260,874,000 after buying an additional 1,000,000 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Bentley Systems by 94.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock valued at $584,000 after buying an additional 5,596 shares during the last quarter. Diversify Wealth Management LLC grew its position in shares of Bentley Systems by 2.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock valued at $993,000 after buying an additional 428 shares during the last quarter. Stephens Inc. AR boosted its position in shares of Bentley Systems by 14.4% during the 3rd quarter. Stephens Inc. AR now owns 8,971 shares of the company’s stock valued at $456,000 after purchasing an additional 1,130 shares in the last quarter. Finally, Conestoga Capital Advisors LLC boosted its position in shares of Bentley Systems by 32.0% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 8,385 shares of the company’s stock valued at $426,000 after purchasing an additional 2,035 shares in the last quarter. Institutional investors 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.