Piper Sandler Issues Pessimistic Forecast for Bentley Systems (NASDAQ:BSY) Stock Price

Bentley Systems (NASDAQ:BSY) had its price target reduced by stock analysts at Piper Sandler from $63.00 to $60.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price target would suggest a potential upside of 28.45% from the stock’s previous close.

Several other brokerages also recently commented on BSY. Oppenheimer lifted their price target on Bentley Systems from $59.00 to $65.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Barclays began coverage on Bentley Systems in a report on Tuesday, October 7th. They issued an “equal weight” rating and a $57.00 price target for the company. UBS Group raised their price objective on Bentley Systems from $53.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. Rosenblatt Securities upgraded Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, October 17th. Finally, Wall Street Zen cut Bentley Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 16th. Seven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.73.

Bentley Systems Stock Up 0.6%

Bentley Systems stock traded up $0.28 during mid-day trading on Thursday, hitting $46.71. 3,004,547 shares of the company’s stock were exchanged, compared to its average volume of 1,557,307. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $59.25. The stock has a 50 day moving average of $52.00 and a two-hundred day moving average of $51.68. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.04. The stock has a market cap of $13.64 billion, a P/E ratio of 55.61, a P/E/G ratio of 3.75 and a beta of 1.12.

Bentley Systems (NASDAQ:BSY) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.27 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.27. The company had revenue of $375.55 million during the quarter, compared to the consensus estimate of $369.57 million. Bentley Systems had a return on equity of 28.16% and a net margin of 18.45%.The firm’s revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, analysts anticipate that Bentley Systems will post 0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of the business. Teacher Retirement System of Texas acquired a new stake in Bentley Systems during the 1st quarter worth $920,000. CWM LLC lifted its stake in shares of Bentley Systems by 31.1% in the 1st quarter. CWM LLC now owns 38,413 shares of the company’s stock valued at $1,511,000 after purchasing an additional 9,110 shares during the period. Bessemer Group Inc. boosted its position in shares of Bentley Systems by 3.6% in the 2nd quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after purchasing an additional 68,155 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Bentley Systems during the first quarter worth $333,000. Finally, Vanguard Group Inc. increased its holdings in Bentley Systems by 5.3% in the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company’s stock valued at $708,114,000 after purchasing an additional 898,115 shares during the last quarter. 44.16% of the stock is currently owned by institutional investors.

About Bentley Systems

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.