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

Bentley Systems (NASDAQ:BSY) had its target price lowered by Rosenblatt Securities from $58.00 to $50.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ target price points to a potential upside of 53.94% from the stock’s previous close.

Several other brokerages also recently weighed in on BSY. UBS Group dropped their target price on Bentley Systems from $60.00 to $40.00 and set a “neutral” rating on the stock in a research note on Monday. Royal Bank Of Canada cut their price target on shares of Bentley Systems from $65.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Robert W. Baird set a $55.00 price objective on shares of Bentley Systems in a research note on Wednesday, January 7th. JPMorgan Chase & Co. dropped their price objective on shares of Bentley Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, Oppenheimer reduced their price objective on Bentley Systems from $65.00 to $53.00 and set an “outperform” rating for the company in a research note on Tuesday, January 20th. Eight analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Bentley Systems currently has an average rating of “Moderate Buy” and a consensus price target of $50.67.

Bentley Systems Stock Up 0.4%

NASDAQ:BSY opened at $32.48 on Tuesday. The company’s 50-day simple moving average is $36.82 and its 200-day simple moving average is $44.88. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.61. Bentley Systems has a fifty-two week low of $30.97 and a fifty-two week high of $59.25. The stock has a market capitalization of $9.48 billion, a P/E ratio of 38.67, a P/E/G ratio of 2.24 and a beta of 1.21.

Hedge Funds Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in Bentley Systems in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. increased its stake in shares of Bentley Systems by 1,529.3% during 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. acquired a new position in shares of Bentley Systems during the 3rd quarter worth about $28,000. National Pension Service purchased a new position in Bentley Systems in the 3rd quarter valued at about $28,000. Finally, Royal London Asset Management Ltd. acquired a new stake in shares of Bentley Systems in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds 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.