Bentley Systems (NASDAQ:BSY) Given New $62.00 Price Target at Robert W. Baird

Bentley Systems (NASDAQ:BSY) had its price objective cut by stock analysts at Robert W. Baird from $64.00 to $62.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 30.47% from the company’s current price.

BSY has been the topic of several other reports. Weiss Ratings reissued a “hold (c)” rating on shares of Bentley Systems in a report on Wednesday, October 8th. Wall Street Zen downgraded Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 16th. Piper Sandler reduced their target price on Bentley Systems from $63.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group boosted their target price on Bentley Systems from $42.00 to $47.00 and gave the stock a “sell” rating in a report on Thursday, August 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $58.00 target price on shares of Bentley Systems in a report on Thursday. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $56.18.

Bentley Systems Stock Performance

BSY traded down $0.96 on Thursday, hitting $47.52. 722,944 shares of the stock traded hands, compared to its average volume of 1,678,955. Bentley Systems has a 52 week low of $36.51 and a 52 week high of $59.25. The firm has a market capitalization of $13.88 billion, a PE ratio of 60.17, a P/E/G ratio of 3.95 and a beta of 1.12. The business has a fifty day moving average price of $52.35 and a two-hundred day moving average price of $51.68. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.27 earnings per share for the quarter, meeting the consensus estimate of $0.27. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The company had revenue of $375.55 million for the quarter, compared to analyst estimates of $369.57 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 12.0% compared to the same quarter last year. On average, research analysts predict that Bentley Systems will post 0.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. National Pension Service acquired a new position in Bentley Systems during the 3rd quarter worth $28,000. Baillie Gifford & Co. bought a new stake in shares of Bentley Systems during the 3rd quarter valued at $28,000. Geneos Wealth Management Inc. raised its position in shares of Bentley Systems by 1,529.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock valued at $26,000 after acquiring an additional 627 shares during the last quarter. Allworth Financial LP raised its position in shares of Bentley Systems by 37.6% during the 2nd quarter. Allworth Financial LP now owns 702 shares of the company’s stock valued at $38,000 after acquiring an additional 192 shares during the last quarter. Finally, Assetmark Inc. increased its position in shares of Bentley Systems by 682.8% in the 2nd quarter. Assetmark Inc. now owns 728 shares of the company’s stock valued at $39,000 after buying an additional 635 shares in the last quarter. Institutional investors and hedge funds own 44.16% of the company’s stock.

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.