Bentley Systems (NASDAQ:BSY) Receives Buy Rating from Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $60.00 target price on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 12.02% from the stock’s previous close.

A number of other analysts have also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Robert W. Baird upped their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an “outperform” rating in a research report on Tuesday, February 6th. Piper Sandler reiterated an “overweight” rating and set a $60.00 price objective on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, William Blair assumed coverage on Bentley Systems in a research report on Thursday, March 28th. They set an “outperform” rating for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.44.

Bentley Systems Trading Down 0.8 %

Bentley Systems stock opened at $53.56 on Tuesday. 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 business’s fifty day simple moving average is $50.81 and its two-hundred day simple moving average is $50.86. Bentley Systems has a 12 month low of $41.44 and a 12 month high of $55.37. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of 54.10, a price-to-earnings-growth ratio of 5.44 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, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.13 earnings per share. As a group, equities analysts predict that Bentley Systems will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 sale, the director now owns 17,150,752 shares in the company, valued at $943,291,360. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Keith A. Bentley sold 88,925 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the completion of the transaction, the director now directly owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith A. Bentley sold 17,021 shares of the 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 transaction, the director now directly owns 17,150,752 shares of the company’s stock, valued at $943,291,360. The disclosure for this sale can be found here. Company insiders own 21.12% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA lifted its stake in shares of Bentley Systems by 87.3% in the 4th quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after purchasing an additional 254 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Bentley Systems by 97.4% in the 4th quarter. Fifth Third Bancorp now owns 752 shares of the company’s stock valued at $39,000 after purchasing an additional 371 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Bentley Systems by 496.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock valued at $47,000 after purchasing an additional 749 shares during the last quarter. Van ECK Associates Corp bought a new stake in shares of Bentley Systems in the 4th quarter valued at approximately $72,000. Finally, Global Retirement Partners LLC lifted its stake in shares of Bentley Systems by 439.4% in the 4th quarter. Global Retirement Partners LLC now owns 1,505 shares of the company’s stock valued at $73,000 after purchasing an additional 1,226 shares during the last quarter. 44.16% of the stock is 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.