Bentley Systems (NASDAQ:BSY) Stock Keeps Buy Rating at Rosenblatt Securities

Bentley Systems (NASDAQ:BSY)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $50.00 price target on the stock. Rosenblatt Securities‘s price objective would indicate a potential upside of 27.16% from the company’s current price.

BSY has been the subject of several other reports. BMO Capital Markets raised their target price on shares of Bentley Systems from $41.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Bentley Systems from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, October 19th. Cantor Fitzgerald raised their target price on shares of Bentley Systems from $37.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, October 16th. Finally, Piper Sandler reissued an “overweight” rating and issued a $45.00 price objective on shares of Bentley Systems in a research note on Friday, August 7th. Ten investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Bentley Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.77.

Bentley Systems Trading Down 1.3%

Shares of BSY traded down $0.52 during midday trading on Tuesday, hitting $39.32. The stock had a trading volume of 1,745,097 shares, compared to its average volume of 2,835,625. Bentley Systems has a fifty-two week low of $28.08 and a fifty-two week high of $52.24. The business has a 50-day simple moving average of $34.63 and a two-hundred day simple moving average of $34.40. The firm has a market cap of $11.43 billion, a P/E ratio of 43.21, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01.

Bentley Systems (NASDAQ:BSY) last announced its earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. Bentley Systems had a net margin of 18.10% and a return on equity of 28.43%. The company had revenue of $410.73 million during the quarter, compared to analysts’ expectations of $412.12 million. During the same period last year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that Bentley Systems will post 1.21 EPS for the current year.

Insider Transactions at Bentley Systems

In related news, Director Raymond Bentley sold 139,135 shares of the stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $40.05, for a total value of $5,572,356.75. Following the completion of the sale, the director directly owned 14,660,607 shares of the company’s stock, valued at approximately $587,157,310.35. This represents a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 20.27% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new stake in shares of Bentley Systems during the 2nd quarter worth about $6,975,000. Groupe la Francaise raised its stake in shares of Bentley Systems by 46.1% during the 2nd quarter. Groupe la Francaise now owns 159,678 shares of the company’s stock worth $4,776,000 after purchasing an additional 50,412 shares in the last quarter. SummitTX Capital L.P. raised its stake in shares of Bentley Systems by 74.9% during the 1st quarter. SummitTX Capital L.P. now owns 104,520 shares of the company’s stock worth $3,671,000 after purchasing an additional 44,774 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Bentley Systems during the 2nd quarter worth about $78,738,000. Finally, Whetstone Capital Advisors LLC purchased a new stake in shares of Bentley Systems during the 2nd quarter worth about $2,935,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Bentley Systems

Here are the key news stories impacting Bentley Systems this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and maintained a $50 price target, implying substantial upside from recent trading levels. The endorsement provides support for the company’s long-term growth outlook. Rosenblatt Securities ratings
• Positive Sentiment: A Yahoo Finance article highlighted Bentley Systems as an attractive opportunity for Madison Small Cap Fund despite fears that artificial intelligence could disrupt software companies. This suggests some investors view AI-related weakness as already reflected in the stock’s valuation and see potential for recovery. Bentley Systems becomes an attractive opportunity
• Neutral Sentiment: Gregory Bentley received 63,793 Class B shares through a bonus pool plan. Because the shares were awarded rather than purchased in the open market, the transaction offers limited information about current operating expectations. Gregory Bentley receives Class B shares
• Neutral Sentiment: Reports stated that October short interest totaled zero shares, producing a zero-day short-interest ratio. The data appears unusual and provides little actionable indication of bearish positioning.
• Neutral Sentiment: Bentley Systems was included in Oppenheimer’s top 50 small- and mid-cap buy list, potentially improving visibility among institutional investors. Oppenheimer top 50 buy list
• Negative Sentiment: Director Raymond Bentley sold a combined 155,797 shares for approximately $6.24 million across October 23 and 26. Both sales were made under a pre-arranged Rule 10b5-1 plan, reducing the immediate negative signal, but the sizable transactions may still weigh on sentiment.

About Bentley Systems

Bentley Systems, Incorporated is a software company that develops solutions for the design, construction, and operation of infrastructure. Its customers include engineers, architects, geospatial professionals, construction firms, and infrastructure owner-operators in sectors such as transportation, water, utilities, industrial facilities, and buildings.

The company’s product portfolio includes MicroStation for infrastructure design, ProjectWise for project collaboration, AssetWise for asset performance and operations, and SYNCHRO for construction management.