Bentley Systems (NASDAQ:BSY) Earns Overweight Rating from Piper Sandler

Bentley Systems (NASDAQ:BSY)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $63.00 price target on the stock, up from their prior price target of $60.00. Piper Sandler’s price objective indicates a potential upside of 14.69% from the company’s current price.

A number of other equities research analysts have also issued reports on the company. William Blair assumed coverage on Bentley Systems in a research note on Thursday, March 28th. They set an “outperform” rating for the company. Robert W. Baird lifted their target price on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Tuesday, April 30th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. Finally, Mizuho boosted their price objective on shares of Bentley Systems from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $59.33.

Bentley Systems Trading Up 2.6 %

BSY stock opened at $54.93 on Wednesday. The firm has a fifty day moving average price of $50.83 and a 200 day moving average price of $50.85. Bentley Systems has a fifty-two week low of $41.59 and a fifty-two week high of $55.37. The firm has a market cap of $15.70 billion, a PE ratio of 55.48, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08. 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 issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The business had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts anticipate that Bentley Systems will post 0.82 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BSY. Vanguard Group Inc. boosted its stake in shares of Bentley Systems by 1.6% in the fourth 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 during the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Bentley Systems by 4.5% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 13,516,480 shares of the company’s stock valued at $677,987,000 after buying an additional 578,512 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake 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 acquiring an additional 100,207 shares in the last quarter. Northern Trust Corp grew 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 valued at $81,520,000 after acquiring an additional 99,319 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Bentley Systems by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,430,019 shares of the company’s stock valued at $74,618,000 after purchasing an additional 28,285 shares in 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.