Bentley Systems (NASDAQ:BSY) Stock Rating Reaffirmed by Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reiterated by equities research analysts at Rosenblatt Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $60.00 target price on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 16.57% from the company’s previous close.

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

Bentley Systems Price Performance

Shares of NASDAQ:BSY opened at $51.47 on Tuesday. Bentley Systems has a 12 month low of $41.44 and a 12 month high of $55.37. The stock has a market cap of $14.71 billion, a price-to-earnings ratio of 51.99, a PEG ratio of 5.39 and a beta of 1.10. The stock’s 50 day moving average price is $50.81 and its 200 day moving average price is $50.87. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.55 and a quick ratio of 0.55.

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

Insider Activity

In other news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Keith A. Bentley sold 17,021 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the transaction, the director now directly owns 17,150,752 shares in the company, valued at approximately $943,291,360. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Keith A. Bentley sold 88,925 shares of the company’s stock in a transaction 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 sale, the director now owns 17,164,179 shares of the company’s stock, valued at $849,283,576.92. The disclosure for this sale can be found here. 21.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bentley Systems

A number of large investors have recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in Bentley Systems by 3.3% in the first quarter. Janney Montgomery Scott LLC now owns 204,967 shares of the company’s stock worth $10,703,000 after purchasing an additional 6,508 shares in the last quarter. Diversify Advisory Services LLC bought a new stake in Bentley Systems in the first quarter worth $935,000. Norden Group LLC bought a new stake in Bentley Systems in the first quarter worth $224,000. Benjamin F. Edwards & Company Inc. boosted its holdings in Bentley Systems by 496.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 900 shares of the company’s stock worth $47,000 after purchasing an additional 749 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new stake in Bentley Systems in the first quarter worth $288,000. 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.