Bentley Systems (NASDAQ:BSY) Price Target Raised to $60.00 at UBS Group

Key Points

• UBS Group raised its price target for Bentley Systems from $53.00 to $60.00, indicating a potential upside of 13.65% from its current stock price.
• Despite the positive target increase from UBS, shares of Bentley Systems fell by 4.4%, trading down to $52.80.
• Bentley Systems has a consensus rating of "Hold" from analysts, with a wide range of target prices from various firms, highlighting varied opinions on the stock's performance.

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price objective hoisted by equities research analysts at UBS Group from $53.00 to $60.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential upside of 13.65% from the stock's current price.

A number of other research firms have also weighed in on BSY. Mizuho dropped their price target on shares of Bentley Systems from $60.00 to $50.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen downgraded Bentley Systems from a "buy" rating to a "hold" rating in a report on Wednesday, July 16th. KeyCorp boosted their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. Oppenheimer upped their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Rosenblatt Securities cut shares of Bentley Systems from a "buy" rating to a "neutral" rating and boosted their price objective for the company from $53.00 to $58.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Bentley Systems presently has a consensus rating of "Hold" and a consensus target price of $56.10.

Bentley Systems Stock Down 4.4%

Shares of BSY traded down $2.43 during midday trading on Thursday, reaching $52.80. 939,648 shares of the company were exchanged, compared to its average volume of 1,523,383. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.13. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 66.95, a P/E/G ratio of 4.64 and a beta of 1.10. Bentley Systems has a 1-year low of $36.51 and a 1-year high of $59.25. The stock has a 50-day moving average price of $53.82 and a 200-day moving average price of $47.55.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.03. The company had revenue of $364.11 million for the quarter, compared to the consensus estimate of $363.51 million. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The company's revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.31 EPS. Research analysts expect that Bentley Systems will post 0.88 earnings per share for the current year.

Insider Transactions at Bentley Systems

In other Bentley Systems news, Director Raymond B. Bentley sold 122,114 shares of the business's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $50.70, for a total value of $6,191,179.80. Following the completion of the sale, the director directly owned 15,347,424 shares of the company's stock, valued at $778,114,396.80. The trade was a 0.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith A. Bentley sold 150,000 shares of the stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $55.54, for a total transaction of $8,331,000.00. Following the sale, the director directly 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,189,869 shares of company stock worth $60,880,388. Company insiders own 20.56% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in shares of Bentley Systems by 207.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,062,057 shares of the company's stock worth $165,259,000 after acquiring an additional 2,066,725 shares during the period. Bessemer Group Inc. lifted its position in Bentley Systems by 8,187,760.9% during the first quarter. Bessemer Group Inc. now owns 1,883,208 shares of the company's stock valued at $74,086,000 after buying an additional 1,883,185 shares in the last quarter. Vanguard Group Inc. lifted its position in Bentley Systems by 5.3% during the first quarter. Vanguard Group Inc. now owns 17,999,856 shares of the company's stock valued at $708,114,000 after buying an additional 898,115 shares in the last quarter. Federated Hermes Inc. acquired a new position in Bentley Systems during the first quarter valued at approximately $15,960,000. Finally, Sone Capital Management LLC purchased a new stake in shares of Bentley Systems during the fourth quarter valued at approximately $17,884,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

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.

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