Bentley Systems (NASDAQ:BSY) Price Target Raised to $47.00 at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has raised its price target for Bentley Systems from $42.00 to $47.00, maintaining a "sell" rating, which implies a potential downside of 10.47% from the current price.
• Other analysts have issued varying ratings and targets, with Robert W. Baird setting a target at $64.00 and Oppenheimer raising theirs to $65.00, indicating a generally positive outlook from several brokerages.
• Despite a 4.9% decline in stock price recently, Bentley Systems reported better than expected earnings, with a quarterly EPS of $0.32, surpassing the consensus estimate of $0.29.

Bentley Systems (NASDAQ:BSY - Free Report) had its price target raised by The Goldman Sachs Group from $42.00 to $47.00 in a research report report published on Thursday,Benzinga reports. The firm currently has a sell rating on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Bentley Systems from $52.00 to $45.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Royal Bank Of Canada raised their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Rosenblatt Securities lowered shares of Bentley Systems from a "buy" rating to a "neutral" rating and raised their price target for the stock from $53.00 to $58.00 in a research report on Thursday. UBS Group raised their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Wall Street Zen lowered shares of Bentley Systems from a "buy" rating to a "hold" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $56.60.

Bentley Systems Stock Down 1.1%

Bentley Systems stock traded down $0.58 during midday trading on Thursday, hitting $52.91. 1,189,410 shares of the company's stock were exchanged, compared to its average volume of 1,626,162. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.51 and a current ratio of 0.51. Bentley Systems has a 12 month low of $36.51 and a 12 month high of $59.25. The firm has a 50-day moving average of $54.15 and a two-hundred day moving average of $47.73. The company has a market cap of $15.45 billion, a PE ratio of 66.98, a P/E/G ratio of 4.35 and a beta of 1.10.

Bentley Systems (NASDAQ:BSY - Get Free Report) last released its quarterly earnings results 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 net margin of 17.91% and a return on equity of 28.41%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. As a group, analysts expect that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Bentley Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Tuesday, June 3rd were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.5%. Bentley Systems's dividend payout ratio (DPR) is currently 35.44%.

Insider Activity at Bentley Systems

In other news, Director Raymond B. Bentley sold 122,114 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $50.70, for a total transaction of $6,191,179.80. Following the completion of the sale, the director owned 15,347,424 shares of the company's stock, valued at $778,114,396.80. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the business's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the transaction, the insider directly owned 647,609 shares in the company, valued at approximately $36,887,808.64. The trade was a 2.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,189,869 shares of company stock valued at $60,880,388. 20.56% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bentley Systems

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock worth $708,114,000 after purchasing an additional 898,115 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Bentley Systems by 1.0% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 16,167,441 shares of the company's stock worth $636,027,000 after acquiring an additional 160,496 shares during the period. Swedbank AB boosted its holdings in Bentley Systems by 1.6% in the 1st quarter. Swedbank AB now owns 7,119,208 shares of the company's stock worth $280,070,000 after acquiring an additional 111,884 shares during the period. Geode Capital Management LLC boosted its stake in shares of Bentley Systems by 5.0% during the 2nd quarter. Geode Capital Management LLC now owns 3,230,547 shares of the company's stock valued at $173,877,000 after buying an additional 155,078 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Bentley Systems by 207.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company's stock valued at $165,259,000 after acquiring an additional 2,066,725 shares in the last quarter. 44.16% of the stock is currently owned by hedge funds and other 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.