Rosenblatt Securities Cuts Bentley Systems (NASDAQ:BSY) Price Target to $50.00

Bentley Systems (NASDAQ:BSY) had its target price decreased by research analysts at Rosenblatt Securities from $58.00 to $50.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 51.17% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. BMO Capital Markets began coverage on shares of Bentley Systems in a research report on Thursday, January 22nd. They set an “outperform” rating and a $48.00 price objective on the stock. Robert W. Baird set a $55.00 price target on shares of Bentley Systems in a research note on Wednesday, January 7th. Royal Bank Of Canada cut their price objective on Bentley Systems from $65.00 to $48.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. UBS Group decreased their target price on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bentley Systems in a research note on Wednesday, January 21st. Eight equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.67.

Bentley Systems Price Performance

Shares of Bentley Systems stock traded up $0.88 during trading hours on Tuesday, hitting $33.08. The company’s stock had a trading volume of 279,569 shares, compared to its average volume of 2,763,502. The company has a market cap of $9.66 billion, a PE ratio of 39.24, a PEG ratio of 2.34 and a beta of 1.21. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. The business has a 50 day moving average price of $37.13 and a two-hundred day moving average price of $45.12. Bentley Systems has a 12-month low of $30.97 and a 12-month high of $59.25.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new position in Bentley Systems in the 4th quarter worth about $25,000. Geneos Wealth Management Inc. grew its stake in Bentley Systems by 1,529.3% in the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after purchasing an additional 627 shares in the last quarter. Baillie Gifford & Co. purchased a new position in Bentley Systems during the 3rd quarter worth $28,000. National Pension Service bought a new stake in Bentley Systems during the 3rd quarter valued at $28,000. Finally, Royal London Asset Management Ltd. purchased a new stake in shares of Bentley Systems in the 4th quarter worth $32,000. Institutional investors own 44.16% of the company’s stock.

Bentley Systems Company Profile

Bentley Systems, Inc is a global software provider specializing in infrastructure engineering applications for the design, construction, and operations of roads, bridges, rail and transit systems, water and wastewater networks, power plants and grids, industrial facilities, and communications infrastructure. Founded in 1984 by brothers Keith and Barry Bentley, the company is headquartered in Exton, Pennsylvania, and maintains offices and development centers across North America, Europe, Asia, and Australia.