Bentley Systems (NASDAQ:BSY) Stock Gets Price Target Boost from Rosenblatt Securities

Key Points

• Rosenblatt Securities raised its Bentley Systems price target from $50 to $53 and maintained a Buy rating, implying 17.94% upside from the prior close.
• Bentley reported quarterly EPS of $0.36, beating the $0.33 consensus, while revenue increased 12.2% year over year to $421.5 million. Analysts’ consensus rating is Moderate Buy, with an average target price of $45.25.
• Director Raymond Bentley sold 344,203 shares for about $13.85 million under a pre-arranged trading plan; insiders sold 500,000 shares in total over the past three months.

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price target hoisted by analysts at Rosenblatt Securities from $50.00 to $53.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities's target price would indicate a potential upside of 17.94% from the company's previous close.

BSY has been the subject of several other reports. Piper Sandler restated an "overweight" rating and issued a $45.00 target price on shares of Bentley Systems in a research report on Friday, August 7th. Weiss Ratings upgraded shares of Bentley Systems from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, October 19th. Oppenheimer reissued an "outperform" rating and issued a $52.00 price objective on shares of Bentley Systems in a research note on Friday. Cantor Fitzgerald lifted their price objective on shares of Bentley Systems from $37.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, October 16th. Finally, BMO Capital Markets boosted their price objective on shares of Bentley Systems from $41.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Nine research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $45.25.

Bentley Systems Stock Performance

BSY opened at $44.94 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.59 and a current ratio of 0.59. Bentley Systems has a 52-week low of $28.08 and a 52-week high of $48.38. The firm has a market cap of $13.06 billion, a P/E ratio of 49.38, a price-to-earnings-growth ratio of 2.72 and a beta of 0.98. The business's fifty day moving average is $35.47 and its 200-day moving average is $34.48.

Bentley Systems (NASDAQ:BSY - Get Free Report) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. The business had revenue of $421.51 million during the quarter, compared to the consensus estimate of $420.69 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Bentley Systems's revenue for the quarter was up 12.2% compared to the same quarter last year. Sell-side analysts expect that Bentley Systems will post 1.21 EPS for the current fiscal year.

Insider Buying and Selling

In other Bentley Systems news, Director Raymond Bentley sold 344,203 shares of the business's stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $40.24, for a total transaction of $13,850,728.72. Following the completion of the transaction, the director owned 14,316,404 shares of the company's stock, valued at approximately $576,092,096.96. The trade was a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 500,000 shares of company stock worth $20,089,565 over the last three months. 20.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently made changes to their positions in BSY. Yousif Capital Management LLC grew its position in Bentley Systems by 0.7% during the 3rd quarter. Yousif Capital Management LLC now owns 41,229 shares of the company's stock worth $1,317,000 after acquiring an additional 298 shares during the last quarter. Diversify Advisory Services LLC increased its holdings in Bentley Systems by 1.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 20,930 shares of the company's stock worth $669,000 after purchasing an additional 327 shares in the last quarter. GAMMA Investing LLC raised its position in Bentley Systems by 8.8% in the third quarter. GAMMA Investing LLC now owns 4,528 shares of the company's stock valued at $145,000 after purchasing an additional 366 shares during the last quarter. Liontrust Investment Partners LLP raised its position in Bentley Systems by 7.4% in the first quarter. Liontrust Investment Partners LLP now owns 7,349 shares of the company's stock valued at $258,000 after purchasing an additional 505 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Bentley Systems by 0.8% during the third quarter. State of Alaska Department of Revenue now owns 67,528 shares of the company's stock valued at $2,156,000 after purchasing an additional 534 shares in the last quarter. 44.16% of the stock is owned by institutional investors.

Key Stories Impacting Bentley Systems

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

• Positive Sentiment: Q3 adjusted earnings were $0.36 per share, above consensus estimates of $0.33–$0.34 and up from $0.27 a year earlier. Revenue rose 12.2% year over year to $421.5 million, narrowly exceeding the roughly $420.7 million estimate. Article: Bentley Systems Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: The company raised its annual recurring revenue outlook, signaling improved confidence in recurring growth and offering investors a favorable forward-looking takeaway alongside the quarterly beat. Article: Bentley Systems reports revenue growth and raises ARR outlook
• Neutral Sentiment: Revenue was only marginally ahead of analyst expectations, so the results’ upside appears more pronounced in earnings and the raised outlook than in sales growth. Article: Bentley Systems posts Q3 sales in line with estimates
• Negative Sentiment: An insider, Raymond Bentley, reportedly sold 344,203 shares. Such a sale can weigh on sentiment, although the report alone does not establish the seller’s reason or whether it reflects a view on the company’s outlook. Article: Insider Raymond Bentley sells shares

Bentley Systems Company Profile

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.

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