Summit Securities Group LLC bought a new stake in Bentley Systems, Incorporated (NASDAQ:BSY – Free Report) during the second quarter, Holdings Channel.com reports. The fund bought 1,178 shares of the company’s stock, valued at approximately $58,000.
Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in shares of Bentley Systems during the fourth quarter worth approximately $6,382,000. Illinois Municipal Retirement Fund bought a new stake in shares of Bentley Systems in the 4th quarter valued at about $595,000. Truist Financial Corp boosted its holdings in Bentley Systems by 2.5% during the 4th quarter. Truist Financial Corp now owns 218,828 shares of the company’s stock valued at $11,418,000 after acquiring an additional 5,427 shares during the period. Van ECK Associates Corp bought a new position in Bentley Systems during the 4th quarter worth approximately $72,000. Finally, Heritage Wealth Management LLC purchased a new position in Bentley Systems in the 4th quarter worth approximately $642,000. 44.16% of the stock is currently owned by institutional investors.
Bentley Systems Stock Up 1.1 %
BSY stock traded up $0.54 during midday trading on Tuesday, hitting $51.40. The stock had a trading volume of 324,988 shares, compared to its average volume of 1,273,180. The business has a 50-day moving average of $49.24 and a two-hundred day moving average of $50.79. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $14.83 billion, a price-to-earnings ratio of 47.93, a price-to-earnings-growth ratio of 4.21 and a beta of 1.03. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Bentley Systems in a report on Wednesday, August 7th. Mizuho increased their price objective on Bentley Systems from $57.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Bentley Systems has an average rating of “Moderate Buy” and a consensus price target of $59.57.
View Our Latest Stock Analysis on BSY
Bentley Systems 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.
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