Bentley Systems (NASDAQ:BSY) Receives Buy Rating from Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating restated by research analysts at Rosenblatt Securities in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $60.00 target price on the stock. Rosenblatt Securities’ target price indicates a potential upside of 12.02% from the stock’s previous close.

Several other equities analysts have also commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $60.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. William Blair assumed coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating for the company. Finally, Robert W. Baird upped their price target 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 research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Bentley Systems Stock Down 0.8 %

Shares of NASDAQ BSY opened at $53.56 on Tuesday. The firm’s 50-day moving average is $50.81 and its two-hundred day moving average is $50.86. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55. The company has a market capitalization of $15.31 billion, a PE ratio of 54.10, a price-to-earnings-growth ratio of 5.44 and a beta of 1.10. Bentley Systems has a 12-month low of $41.44 and a 12-month high of $55.37.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.18. The business had revenue of $310.64 million during the quarter, compared to analyst estimates of $313.67 million. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 earnings per share. Equities analysts anticipate that Bentley Systems will post 0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at approximately $943,291,360. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is owned by company insiders.

Institutional Trading of Bentley Systems

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Bentley Systems by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock worth $1,154,093,000 after buying an additional 355,092 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Bentley Systems by 4.5% during the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock worth $677,987,000 after buying an additional 578,512 shares in the last quarter. Artisan Partners Limited Partnership raised its position in shares of Bentley Systems by 1.9% during the 3rd quarter. Artisan Partners Limited Partnership now owns 5,446,498 shares of the company’s stock worth $273,196,000 after buying an additional 100,207 shares in the last quarter. Northern Trust Corp raised its position in shares of Bentley Systems by 6.5% during the 3rd quarter. Northern Trust Corp now owns 1,625,197 shares of the company’s stock worth $81,520,000 after buying an additional 99,319 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Bentley Systems by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,430,019 shares of the company’s stock worth $74,618,000 after buying an additional 28,285 shares in the last quarter. 44.16% of the stock is currently 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.