Bentley Systems (NASDAQ:BSY) PT Raised to $60.00 at Mizuho

Bentley Systems (NASDAQ:BSY) had its price objective upped by research analysts at Mizuho from $57.00 to $60.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Mizuho’s target price suggests a potential upside of 9.23% from the stock’s previous close.

Several other brokerages have also recently weighed in on BSY. Rosenblatt Securities reaffirmed a “buy” rating and issued a $60.00 price target on shares of Bentley Systems in a research note on Tuesday, April 30th. William Blair initiated coverage on shares of Bentley Systems in a research report on Thursday, March 28th. They issued an “outperform” rating on the stock. Piper Sandler reissued an “overweight” rating and set a $60.00 price target on shares of Bentley Systems in a research report on Wednesday, February 28th. Robert W. Baird upped their price objective on shares of Bentley Systems from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $61.00 target price on shares of Bentley Systems in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Bentley Systems has a consensus rating of “Moderate Buy” and an average price target of $59.33.

Bentley Systems Trading Up 2.6 %

NASDAQ BSY opened at $54.93 on Wednesday. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. Bentley Systems has a fifty-two week low of $41.59 and a fifty-two week high of $55.37. The stock has a market cap of $15.70 billion, a P/E ratio of 55.48, a price-to-earnings-growth ratio of 5.36 and a beta of 1.08. The stock has a 50 day simple moving average of $50.83 and a two-hundred day simple moving average of $50.85.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.18 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.18. Bentley Systems had a net margin of 26.60% and a return on equity of 33.87%. The business had revenue of $310.64 million for the quarter, compared to the consensus estimate of $313.67 million. During the same period in the previous year, the firm earned $0.13 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast 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 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 in the company, valued at $849,283,576.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Bentley Systems news, Director Keith A. Bentley sold 17,021 shares of the business’s 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 of the company’s stock, valued at $943,291,360. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares in the company, 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.

Hedge Funds Weigh In On Bentley Systems

Hedge funds have recently modified their holdings of the company. M&T Bank Corp grew its holdings in Bentley Systems by 0.4% during the 3rd quarter. M&T Bank Corp now owns 57,456 shares of the company’s stock valued at $2,882,000 after buying an additional 218 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Bentley Systems by 1.9% in the third quarter. Wealthfront Advisers LLC now owns 12,108 shares of the company’s stock worth $607,000 after buying an additional 228 shares in the last quarter. Private Trust Co. NA boosted its stake in Bentley Systems by 87.3% during the fourth quarter. Private Trust Co. NA now owns 545 shares of the company’s stock valued at $28,000 after buying an additional 254 shares during the last quarter. MJP Associates Inc. ADV grew its holdings in Bentley Systems by 3.9% during the 4th quarter. MJP Associates Inc. ADV now owns 7,346 shares of the company’s stock valued at $383,000 after buying an additional 277 shares in the last quarter. Finally, Portside Wealth Group LLC increased its stake in Bentley Systems by 2.8% in the 4th quarter. Portside Wealth Group LLC now owns 11,412 shares of the company’s stock worth $595,000 after acquiring an additional 308 shares during the last quarter. 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.