Bentley Systems (NASDAQ:BSY) Rating Reiterated by Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a note issued to investors on Monday, Benzinga reports. They presently have a $62.00 price objective on the stock. Rosenblatt Securities’ target price indicates a potential upside of 23.68% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, August 7th. Piper Sandler restated an “overweight” rating and set a $63.00 target price on shares of Bentley Systems in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group decreased their target price on Bentley Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.57.

Bentley Systems Stock Up 1.6 %

Shares of NASDAQ BSY opened at $50.13 on Monday. Bentley Systems has a 12-month low of $43.82 and a 12-month high of $57.19. The firm’s 50-day simple moving average is $49.08 and its 200 day simple moving average is $50.54. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.36. The company has a market cap of $14.46 billion, a price-to-earnings ratio of 46.85, a price-to-earnings-growth ratio of 4.08 and a beta of 1.03.

Bentley Systems (NASDAQ:BSY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.08. The firm had revenue of $330.34 million for the quarter, compared to the consensus estimate of $325.20 million. Bentley Systems had a return on equity of 31.71% and a net margin of 29.17%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.20 EPS. On average, research analysts expect that Bentley Systems will post 0.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Bentley Systems

In related news, Director Raymond B. Bentley sold 91,045 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $49.43, for a total transaction of $4,500,354.35. Following the completion of the transaction, the director now directly owns 16,598,656 shares of the company’s stock, valued at $820,471,566.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 bought and sold shares of the business. Swedbank AB increased its holdings in shares of Bentley Systems by 514.5% in the second quarter. Swedbank AB now owns 4,134,295 shares of the company’s stock valued at $204,069,000 after purchasing an additional 3,461,500 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Bentley Systems by 3.9% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 15,778,600 shares of the company’s stock worth $778,832,000 after purchasing an additional 586,458 shares in the last quarter. Creative Planning lifted its position in Bentley Systems by 67.9% during the second quarter. Creative Planning now owns 1,091,058 shares of the company’s stock worth $53,855,000 after purchasing an additional 441,316 shares during the period. Squarepoint Ops LLC acquired a new stake in Bentley Systems during the second quarter worth about $20,402,000. Finally, Vanguard Group Inc. increased its holdings in Bentley Systems by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 22,117,534 shares of the company’s stock valued at $1,154,093,000 after buying an additional 355,092 shares during the period. Institutional investors own 44.16% of the company’s stock.

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.