Bentley Systems (NASDAQ:BSY) Given New $55.00 Price Target at Cantor Fitzgerald

Bentley Systems (NASDAQ:BSY) had its price target raised by investment analysts at Cantor Fitzgerald from $42.00 to $55.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald‘s target price points to a potential upside of 22.39% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Piper Sandler reiterated an “overweight” rating and set a $45.00 price objective on shares of Bentley Systems in a research report on Friday, August 7th. Oppenheimer restated an “outperform” rating and set a $52.00 target price on shares of Bentley Systems in a research report on Friday. Weiss Ratings raised shares of Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 19th. Rosenblatt Securities raised their target price on shares of Bentley Systems from $50.00 to $53.00 and gave the company a “buy” rating in a research note on Friday. Finally, BMO Capital Markets lifted their price target on shares of Bentley Systems from $41.00 to $43.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $46.33.

Bentley Systems Stock Performance

NASDAQ:BSY opened at $44.94 on Friday. The stock has a 50-day moving average price of $35.47 and a 200 day moving average price of $34.48. The stock has a market capitalization of $13.06 billion, a P/E ratio of 49.38, a P/E/G ratio of 2.72 and a beta of 0.98. Bentley Systems has a 12-month low of $28.08 and a 12-month high of $48.38. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The company had revenue of $421.51 million for the quarter, compared to analysts’ expectations of $420.69 million. During the same period in the previous year, the firm earned $0.27 EPS. The firm’s revenue was up 12.2% compared to the same quarter last year. Equities research analysts forecast that Bentley Systems will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Raymond Bentley sold 344,203 shares of the stock in a transaction on Friday, October 30th. The shares were sold at an average price of $40.24, for a total value of $13,850,728.72. Following the sale, the director owned 14,316,404 shares of the company’s stock, valued at approximately $576,092,096.96. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 500,000 shares of company stock worth $20,089,565 over the last ninety days. 20.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Bentley Systems

Hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in Bentley Systems in the 2nd quarter worth about $6,975,000. Groupe la Francaise boosted its position in shares of Bentley Systems by 46.1% during the second quarter. Groupe la Francaise now owns 159,678 shares of the company’s stock valued at $4,776,000 after buying an additional 50,412 shares during the period. SummitTX Capital L.P. grew its stake in shares of Bentley Systems by 74.9% during the first quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock valued at $3,671,000 after buying an additional 44,774 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Bentley Systems during the second quarter valued at approximately $78,738,000. Finally, Whetstone Capital Advisors LLC bought a new position in shares of Bentley Systems during the second quarter valued at approximately $2,935,000. 44.16% of the stock is currently owned by institutional investors.

Trending Headlines about Bentley Systems

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Q3 adjusted earnings were $0.36 per share, above consensus estimates of $0.33–$0.34 and up from $0.27 a year earlier. Revenue rose 12.2% year over year to $421.5 million, narrowly exceeding the roughly $420.7 million estimate. Article: Bentley Systems Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: The company raised its annual recurring revenue outlook, signaling improved confidence in recurring growth and offering investors a favorable forward-looking takeaway alongside the quarterly beat. Article: Bentley Systems reports revenue growth and raises ARR outlook
• Neutral Sentiment: Revenue was only marginally ahead of analyst expectations, so the results’ upside appears more pronounced in earnings and the raised outlook than in sales growth. Article: Bentley Systems posts Q3 sales in line with estimates
• Negative Sentiment: An insider, Raymond Bentley, reportedly sold 344,203 shares. Such a sale can weigh on sentiment, although the report alone does not establish the seller’s reason or whether it reflects a view on the company’s outlook. Article: Insider Raymond Bentley sells shares

Bentley Systems Company Profile

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.