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

Bentley Systems (NASDAQ:BSY) was downgraded by analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports. They presently have a $42.00 price target on the stock, down from their previous price target of $51.00. The Goldman Sachs Group’s price target would indicate a potential downside of 4.63% from the stock’s current price.

A number of other equities analysts also recently commented on BSY. Robert W. Baird cut their price objective on shares of Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday. 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. Piper Sandler lowered their price objective on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Rosenblatt Securities reiterated a “buy” rating and set a $62.00 target price on shares of Bentley Systems in a research report on Tuesday. Finally, Oppenheimer cut Bentley Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.14.

Bentley Systems Trading Down 1.3 %

NASDAQ:BSY opened at $44.04 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $46.54 and its 200-day simple moving average is $48.33. Bentley Systems has a 12-month low of $43.75 and a 12-month high of $57.19. The firm has a market cap of $12.80 billion, a P/E ratio of 39.68, a PEG ratio of 3.52 and a beta of 1.03.

Insider Buying and Selling

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

Institutional Trading of Bentley Systems

Several large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in Bentley Systems in the 3rd quarter valued at approximately $30,000. Private Trust Co. NA raised its holdings in shares of Bentley Systems by 61.1% in the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock worth $47,000 after acquiring an additional 378 shares during the last quarter. Tobam purchased a new stake in shares of Bentley Systems in the fourth quarter valued at $55,000. Atala Financial Inc acquired a new stake in shares of Bentley Systems during the fourth quarter valued at $55,000. Finally, Ameriflex Group Inc. purchased a new stake in Bentley Systems during the 4th quarter worth about $75,000. 44.16% of the stock is currently owned by institutional investors and hedge funds.

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.