Bentley Systems, Incorporated (NASDAQ:BSY) Receives $56.60 Average PT from Brokerages

Key Points

• Bentley Systems, Incorporated has received a consensus rating of "Moderate Buy" from ten analysts, with a one-year price target averaging $56.60.
• The company's stock recently opened at $53.42, with a 52-week range between $36.51 and $59.25.
• Bentley Systems reported earnings of $0.32 per share, exceeding estimates, and announced a quarterly dividend of $0.07 per share.

Shares of Bentley Systems, Incorporated (NASDAQ:BSY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the ten analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $56.60.

Several equities analysts have commented on the company. Rosenblatt Securities lowered Bentley Systems from a "buy" rating to a "neutral" rating and raised their price objective for the company from $53.00 to $58.00 in a research report on Thursday, August 7th. Oppenheimer raised their price objective on Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. The Goldman Sachs Group raised their price objective on Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a research report on Thursday, August 7th. KeyCorp raised their price objective on Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Finally, Wall Street Zen lowered Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th.

Insider Activity

In other news, Director Raymond B. Bentley sold 355,103 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $49.96, for a total transaction of $17,740,945.88. Following the completion of the transaction, the director directly owned 15,992,321 shares in the company, valued at $798,976,357.16. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $55.54, for a total value of $8,331,000.00. Following the transaction, the director owned 3,859,327 shares of the company's stock, valued at $214,347,021.58. The trade was a 3.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,189,869 shares of company stock worth $60,880,388 over the last three months. 20.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bentley Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Two Sigma Investments LP increased its holdings in shares of Bentley Systems by 42.3% during the fourth quarter. Two Sigma Investments LP now owns 42,700 shares of the company's stock valued at $1,994,000 after acquiring an additional 12,689 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Bentley Systems during the first quarter valued at $920,000. Bright Rock Capital Management LLC bought a new stake in Bentley Systems in the 1st quarter worth about $1,967,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Bentley Systems by 99.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,419 shares of the company's stock worth $56,000 after buying an additional 706 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Bentley Systems by 8,187,760.9% in the 1st quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock worth $74,086,000 after buying an additional 1,883,185 shares in the last quarter. 44.16% of the stock is currently owned by institutional investors.

Bentley Systems Stock Up 2.3%

Bentley Systems stock traded up $1.24 on Wednesday, hitting $54.65. 1,495,230 shares of the stock traded hands, compared to its average volume of 1,693,067. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.07. The firm has a market cap of $15.96 billion, a P/E ratio of 69.18, a price-to-earnings-growth ratio of 4.31 and a beta of 1.10. The business's fifty day simple moving average is $54.96 and its 200 day simple moving average is $48.13. Bentley Systems has a 1 year low of $36.51 and a 1 year high of $59.25.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.29 by $0.03. The business had revenue of $364.11 million during the quarter, compared to analyst estimates of $363.51 million. Bentley Systems had a return on equity of 28.41% and a net margin of 17.91%.The company's revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, sell-side analysts forecast that Bentley Systems will post 0.88 earnings per share for the current year.

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.