Bentley Systems (NASDAQ:BSY) Cut to “Hold” at Wall Street Zen

Bentley Systems (NASDAQ:BSY) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other research firms have also weighed in on BSY. Oppenheimer boosted their target price on shares of Bentley Systems from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. UBS Group boosted their price objective on Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Mizuho lowered their target price on Bentley Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Royal Bank Of Canada lifted their price target on Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, May 8th. Finally, KeyCorp increased their price objective on Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.30.

Bentley Systems Stock Performance

Shares of NASDAQ BSY opened at $57.43 on Wednesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $16.76 billion, a price-to-earnings ratio of 72.70, a P/E/G ratio of 4.63 and a beta of 1.09. The business’s 50-day simple moving average is $50.56 and its 200-day simple moving average is $46.30. Bentley Systems has a 52 week low of $36.51 and a 52 week high of $57.53.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.30 by $0.05. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company had revenue of $370.54 million for the quarter, compared to the consensus estimate of $366.76 million. During the same quarter last year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insider Transactions at Bentley Systems

In related news, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director owned 3,859,327 shares of the company’s stock, valued at $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the completion of the sale, the insider owned 647,609 shares in the company, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,201,832 shares of company stock valued at $61,414,013. Company insiders own 20.56% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new position in Bentley Systems in the fourth quarter valued at about $809,000. Intech Investment Management LLC raised its stake in shares of Bentley Systems by 3.6% in the fourth quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock valued at $340,000 after acquiring an additional 254 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Bentley Systems by 3.2% in the 4th quarter. Xponance Inc. now owns 29,769 shares of the company’s stock worth $1,390,000 after acquiring an additional 935 shares in the last quarter. Quantbot Technologies LP bought a new stake in Bentley Systems during the 4th quarter worth approximately $3,867,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in Bentley Systems during the 4th quarter valued at $2,363,000. 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.