Mizuho Has Lowered Expectations for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its price objective decreased by investment analysts at Mizuho from $60.00 to $50.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price target suggests a potential upside of 16.28% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Rosenblatt Securities restated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a research report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their target price on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a report on Wednesday, April 9th. UBS Group initiated coverage on Bentley Systems in a research report on Monday, March 31st. They set a “neutral” rating and a $48.00 price target on the stock. The Goldman Sachs Group lowered Bentley Systems from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $51.00 to $42.00 in a research report on Friday, February 28th. Finally, Piper Sandler cut their target price on Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $52.56.

Bentley Systems Stock Performance

BSY stock opened at $43.00 on Tuesday. The stock’s 50 day simple moving average is $42.96 and its 200 day simple moving average is $46.31. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $57.19. The firm has a market cap of $12.54 billion, a P/E ratio of 38.74, a P/E/G ratio of 3.52 and a beta of 1.06. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.37.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 1,152 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $46.33, for a total value of $53,372.16. Following the completion of the sale, the director now directly owns 16,703,876 shares in the company, valued at $773,890,575.08. This represents a 0.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.12% of the stock is owned by corporate insiders.

Institutional Trading of Bentley Systems

A number of hedge funds and other institutional investors have recently modified their holdings of BSY. Charles Schwab Investment Management Inc. raised its position in Bentley Systems by 1.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,052,704 shares of the company’s stock worth $49,161,000 after acquiring an additional 15,372 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Bentley Systems during the fourth quarter valued at approximately $809,000. Principal Financial Group Inc. boosted its holdings in Bentley Systems by 20.5% during the third quarter. Principal Financial Group Inc. now owns 204,612 shares of the company’s stock worth $10,396,000 after buying an additional 34,871 shares in the last quarter. Bar Harbor Wealth Management acquired a new position in Bentley Systems in the fourth quarter worth approximately $8,413,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Bentley Systems by 10.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,053,762 shares of the company’s stock valued at $49,211,000 after buying an additional 97,950 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.