Bentley Systems (NASDAQ:BSY) Stock Price Expected to Rise, Oppenheimer Analyst Says

Bentley Systems (NASDAQ:BSY) had its price objective raised by analysts at Oppenheimer from $50.00 to $59.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective suggests a potential upside of 2.06% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. UBS Group increased their price target on Bentley Systems from $48.00 to $53.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Wall Street Zen cut Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday. JPMorgan Chase & Co. decreased their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating for the company in a research note on Wednesday, April 9th. Rosenblatt Securities decreased their price target on Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, KeyCorp increased their price target on Bentley Systems from $56.00 to $59.00 and gave the company an “overweight” rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $53.20.

Bentley Systems Trading Up 0.4%

Shares of NASDAQ BSY opened at $57.81 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $16.87 billion, a P/E ratio of 73.18, a price-to-earnings-growth ratio of 4.68 and a beta of 1.09. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $57.99. The business has a fifty day moving average price of $51.22 and a 200 day moving average price of $46.52.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. The firm had revenue of $370.54 million during the quarter, compared to analysts’ expectations of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 EPS. Equities research analysts expect that Bentley Systems will post 0.88 EPS for the current fiscal year.

Insider Transactions at Bentley Systems

In other news, Director Keith A. Bentley sold 150,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the completion of the transaction, the director directly owned 3,859,327 shares in the company, valued at $214,347,021.58. This trade represents a 3.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Raymond B. Bentley sold 355,103 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $49.96, for a total value of $17,740,945.88. Following the completion of the transaction, the director owned 15,992,321 shares of the company’s stock, valued at approximately $798,976,357.16. The trade was a 2.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,201,832 shares of company stock valued at $61,414,013. 20.56% of the stock is owned by company insiders.

Institutional Trading of Bentley Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. City Holding Co. acquired a new stake in Bentley Systems during the first quarter worth about $26,000. Geneos Wealth Management Inc. grew its holdings in Bentley Systems by 1,529.3% during the first quarter. Geneos Wealth Management Inc. now owns 668 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Twin Tree Management LP grew its holdings in Bentley Systems by 361.9% during the first quarter. Twin Tree Management LP now owns 739 shares of the company’s stock worth $29,000 after acquiring an additional 579 shares during the period. Larson Financial Group LLC grew its holdings in Bentley Systems by 1,707.1% during the first quarter. Larson Financial Group LLC now owns 759 shares of the company’s stock worth $30,000 after acquiring an additional 717 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Bentley Systems by 106.6% during the first quarter. Fifth Third Bancorp now owns 843 shares of the company’s stock worth $33,000 after acquiring an additional 435 shares during the period. 44.16% of the stock is owned by institutional investors and hedge funds.

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.