Bentley Systems (NASDAQ:BSY) Cut to “Market Perform” at Oppenheimer

Oppenheimer downgraded shares of Bentley Systems (NASDAQ:BSY) from an outperform rating to a market perform rating in a research note released on Thursday, MarketBeat reports.

Several other research firms have also recently weighed in on BSY. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 price target on shares of Bentley Systems in a report on Tuesday. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research note on Monday, December 9th. They set a “neutral” rating and a $52.00 target price on the stock. Finally, Piper Sandler decreased their price target on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.29.

Bentley Systems Trading Down 1.3 %

NASDAQ BSY opened at $44.04 on Thursday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.52 and a current ratio of 0.52. Bentley Systems has a fifty-two week low of $43.75 and a fifty-two week high of $57.19. The stock has a market cap of $12.80 billion, a P/E ratio of 39.68, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The stock has a 50 day simple moving average of $46.54 and a two-hundred day simple moving average of $48.33.

Bentley Systems Increases Dividend

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

Insider Buying and Selling

In other news, Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $46.67, for a total transaction of $3,246,971.91. Following the completion of the transaction, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.12% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds have recently bought and sold shares of BSY. Point72 Hong Kong Ltd bought a new stake in Bentley Systems during the 3rd quarter valued at about $30,000. Private Trust Co. NA increased its position in shares of Bentley Systems by 61.1% during the fourth quarter. Private Trust Co. NA now owns 997 shares of the company’s stock valued at $47,000 after acquiring an additional 378 shares in the last quarter. Tobam bought a new stake in shares of Bentley Systems during the fourth quarter valued at approximately $55,000. Atala Financial Inc purchased a new position in Bentley Systems in the 4th quarter worth approximately $55,000. Finally, Ameriflex Group Inc. bought a new position in Bentley Systems in the 4th quarter valued at approximately $75,000. Institutional investors own 44.16% of the company’s stock.

About Bentley Systems

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.