Bentley Systems’ (BSY) “Buy” Rating Reiterated at Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating restated by stock analysts at Rosenblatt Securities in a research note issued on Tuesday, Benzinga reports. They currently have a $60.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential upside of 16.57% from the stock’s current price.

Several other brokerages also recently issued reports on BSY. Royal Bank of Canada restated an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Robert W. Baird increased their price target on Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. William Blair assumed coverage on Bentley Systems in a report on Thursday, March 28th. They issued an “outperform” rating for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $60.00 price target on shares of Bentley Systems in a report on Wednesday, February 28th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and a consensus price target of $58.44.

Bentley Systems Trading Down 2.0 %

NASDAQ:BSY opened at $51.47 on Tuesday. Bentley Systems has a 1-year low of $41.44 and a 1-year high of $55.37. The business’s 50-day moving average price is $50.81 and its two-hundred day moving average price is $50.87. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of 51.99, a PEG ratio of 5.39 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY) last announced its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company had revenue of $310.64 million during the quarter, compared to the consensus estimate of $313.67 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Bentley Systems will post 0.82 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $936,155.00. Following the completion of the transaction, the director now directly owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 17,164,179 shares in the company, valued at $849,283,576.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Keith A. Bentley sold 17,021 shares of the firm’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 value of $936,155.00. Following the completion of the transaction, the director now owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. 21.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Raymond James & Associates grew its stake in Bentley Systems by 2.7% in the third quarter. Raymond James & Associates now owns 1,089,101 shares of the company’s stock valued at $54,629,000 after purchasing an additional 28,634 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Bentley Systems in the fourth quarter valued at approximately $6,382,000. Handelsbanken Fonder AB lifted its position in shares of Bentley Systems by 5.0% in the fourth quarter. Handelsbanken Fonder AB now owns 793,900 shares of the company’s stock valued at $41,426,000 after buying an additional 38,120 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Bentley Systems by 70.0% in the third quarter. Victory Capital Management Inc. now owns 159,748 shares of the company’s stock valued at $8,013,000 after buying an additional 65,780 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Bentley Systems by 2.6% in the third quarter. Vanguard Group Inc. now owns 21,762,442 shares of the company’s stock valued at $1,091,604,000 after buying an additional 556,363 shares during 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.