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

The Goldman Sachs Group lowered shares of Bentley Systems (NASDAQ:BSY) from a neutral rating to a sell rating in a research report sent to investors on Friday morning, MarketBeat reports. The brokerage currently has $42.00 target price on the stock, down from their previous target price of $51.00.

Several other brokerages also recently issued reports on BSY. JPMorgan Chase & Co. initiated 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. Rosenblatt Securities restated a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a research report on Tuesday. Oppenheimer downgraded Bentley Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday. Piper Sandler cut their price target 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. Finally, Robert W. Baird lowered their price objective on Bentley Systems from $60.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $56.14.

Bentley Systems Trading Down 0.3 %

Shares of Bentley Systems stock opened at $43.90 on Friday. The firm has a market capitalization of $12.76 billion, a PE ratio of 39.55, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. 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 firm’s 50 day moving average is $46.46 and its 200 day moving average is $48.30. Bentley Systems has a 1 year low of $42.46 and a 1 year high of $57.19.

Bentley Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Wednesday, March 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.64%. This is an increase from Bentley Systems’s previous quarterly dividend of $0.06. The ex-dividend date is Wednesday, March 19th. Bentley Systems’s dividend payout ratio (DPR) is 21.62%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BSY. Ameriflex Group Inc. acquired a new stake in Bentley Systems during the fourth quarter worth approximately $75,000. Cache Advisors LLC acquired a new stake in shares of Bentley Systems during the 4th quarter worth approximately $293,000. Voloridge Investment Management LLC increased its stake in shares of Bentley Systems by 187.6% in the 4th quarter. Voloridge Investment Management LLC now owns 324,175 shares of the company’s stock valued at $15,139,000 after acquiring an additional 211,476 shares in the last quarter. Woodline Partners LP lifted its position in shares of Bentley Systems by 10.9% during the 4th quarter. Woodline Partners LP now owns 435,267 shares of the company’s stock valued at $20,327,000 after acquiring an additional 42,931 shares during the period. Finally, Vident Advisory LLC boosted its stake in Bentley Systems by 30.0% during the fourth quarter. Vident Advisory LLC now owns 10,235 shares of the company’s stock worth $478,000 after acquiring an additional 2,360 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

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.