Bentley Systems (NASDAQ:BSY) Receives New Coverage from Analysts at William Blair

Stock analysts at William Blair assumed coverage on shares of Bentley Systems (NASDAQ:BSY) in a research report issued on Thursday, Briefing.com reports. The firm set an “outperform” rating on the stock.

BSY has been the subject of several other reports. Rosenblatt Securities upgraded shares of Bentley Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $54.00 to $60.00 in a research report on Monday, February 26th. Piper Sandler reiterated an “overweight” rating and issued a $60.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $61.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, Robert W. Baird upped their target price on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.44.

Bentley Systems Trading Up 1.0 %

Bentley Systems stock opened at $51.58 on Thursday. The stock has a market cap of $14.74 billion, a P/E ratio of 52.10, a PEG ratio of 5.11 and a beta of 1.10. Bentley Systems has a fifty-two week low of $40.89 and a fifty-two week high of $55.37. The firm’s fifty day moving average price is $50.84 and its 200-day moving average price is $50.69. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, hitting the consensus estimate of $0.18. The firm had revenue of $310.64 million for the quarter, compared to analysts’ expectations of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.13 earnings per share. Equities research analysts forecast that Bentley Systems will post 0.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the sale, the director now directly owns 17,164,179 shares in the company, valued at $849,283,576.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 21.74% of the company’s stock.

Institutional Trading of Bentley Systems

Institutional investors have recently modified their holdings of the company. HighPoint Advisor Group LLC bought a new position in shares of Bentley Systems during the fourth quarter valued at approximately $429,000. Vanguard Group Inc. grew its holdings in shares of Bentley Systems by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock valued at $1,154,093,000 after buying an additional 355,092 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Bentley Systems by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 394,820 shares of the company’s stock valued at $20,602,000 after buying an additional 12,064 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Bentley Systems by 4.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 81,972 shares of the company’s stock valued at $4,277,000 after buying an additional 3,140 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in shares of Bentley Systems by 10.6% during the fourth quarter. Townsquare Capital LLC now owns 78,950 shares of the company’s stock valued at $4,120,000 after buying an additional 7,558 shares during the last quarter. 44.16% of the stock is currently owned by hedge funds and other 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.