Bentley Systems (NASDAQ:BSY) Given a $64.00 Price Target by Robert W. Baird Analysts

Key Points

• The price target for Bentley Systems (NASDAQ:BSY) was raised from $54.00 to $64.00 by Robert W. Baird, indicating a potential upside of 9.24% from its current price.
• Despite the positive outlook from Baird, other analysts have varied ratings, with one sell rating, three holds, and seven buy ratings, leading to an average rating of "Moderate Buy."
• In recent insider trading, Director Keith A. Bentley sold 150,000 shares for approximately $8.3 million, reducing his ownership by 3.74%.

Bentley Systems (NASDAQ:BSY - Get Free Report) has been given a $64.00 price target by equities research analysts at Robert W. Baird in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm presently has an "outperform" rating on the stock. Robert W. Baird's target price points to a potential upside of 12.04% from the stock's current price.

BSY has been the subject of a number of other reports. UBS Group boosted their target price on shares of Bentley Systems from $48.00 to $53.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Mizuho reduced 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. Oppenheimer boosted their target price on shares of Bentley Systems from $50.00 to $59.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Royal Bank Of Canada upped their price target on shares of Bentley Systems from $53.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. Finally, KeyCorp upped their price target on shares of Bentley Systems from $56.00 to $59.00 and gave the company an "overweight" rating in a report on Monday, July 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Bentley Systems currently has a consensus rating of "Moderate Buy" and an average target price of $53.70.

Bentley Systems Stock Down 1.5%

Shares of NASDAQ:BSY traded down $0.86 during trading hours on Wednesday, reaching $57.12. The stock had a trading volume of 1,519,801 shares, compared to its average volume of 1,350,574. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. The firm's 50 day moving average is $53.29 and its 200-day moving average is $47.33. The stock has a market capitalization of $16.67 billion, a price-to-earnings ratio of 72.30, a P/E/G ratio of 4.71 and a beta of 1.10. 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 released its earnings results on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.30 by $0.05. Bentley Systems had a net margin of 18.46% and a return on equity of 29.18%. The company had revenue of $370.54 million during the quarter, compared to analysts' expectations of $366.76 million. During the same quarter last year, the business earned $0.31 EPS. The business's revenue was up 9.7% on a year-over-year basis. Research analysts predict that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Brock Ballard sold 12,363 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive directly owned 68,064 shares in the company, valued at $3,068,325.12. This trade represents a 15.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Raymond B. Bentley sold 122,114 shares of the firm's stock in a transaction on 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 transaction, the director owned 15,347,424 shares in the company, valued at approximately $778,114,396.80. This trade represents a 0.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,202,232 shares of company stock worth $61,437,713. 20.56% of the stock is owned by company insiders.

Institutional Trading of Bentley Systems

A number of large investors have recently modified their holdings of the business. LPL Financial LLC grew its stake in shares of Bentley Systems by 0.5% in the fourth quarter. LPL Financial LLC now owns 330,954 shares of the company's stock worth $15,456,000 after acquiring an additional 1,509 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Bentley Systems by 0.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 106,178 shares of the company's stock worth $4,998,000 after purchasing an additional 713 shares during the period. Norges Bank bought a new stake in shares of Bentley Systems during the 4th quarter worth approximately $6,361,000. Brown Brothers Harriman & Co. bought a new stake in shares of Bentley Systems during the 4th quarter worth approximately $84,000. Finally, Allstate Corp bought a new stake in Bentley Systems during the 4th quarter valued at $211,000. Institutional investors own 44.16% of the company's stock.

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.