Bentley Systems (NASDAQ:BSY) Price Target Increased to $60.00 by Analysts at Mizuho

Bentley Systems (NASDAQ:BSY - Get Free Report) had its price objective boosted by research analysts at Mizuho from $57.00 to $60.00 in a report released on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Mizuho's target price points to a potential upside of 10.38% from the stock's current price.

BSY has been the subject of a number of other research reports. Royal Bank of Canada reissued an "outperform" rating and issued a $61.00 price target on shares of Bentley Systems in a research note on Wednesday, February 28th. William Blair assumed coverage on shares of Bentley Systems in a research note on Thursday, March 28th. They issued an "outperform" rating for the company. Robert W. Baird increased their price objective on Bentley Systems from $58.00 to $59.00 and gave the company an "outperform" rating in a report on Tuesday, February 6th. Piper Sandler reiterated an "overweight" rating and set a $60.00 target price on shares of Bentley Systems in a research report on Wednesday, February 28th. Finally, Rosenblatt Securities restated a "buy" rating and set a $60.00 price target on shares of Bentley Systems in a research report on Tuesday, April 30th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Bentley Systems presently has an average rating of "Moderate Buy" and an average price target of $59.33.

Bentley Systems Stock Performance

BSY traded down $0.57 during midday trading on Wednesday, reaching $54.36. The company had a trading volume of 1,015,484 shares, compared to its average volume of 1,323,613. The business has a 50-day moving average price of $50.94 and a two-hundred day moving average price of $50.89. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.55 and a current ratio of 0.55. Bentley Systems has a 12-month low of $42.11 and a 12-month high of $55.37. The stock has a market cap of $15.54 billion, a PE ratio of 54.73, a P/E/G ratio of 5.36 and a beta of 1.08.

Bentley Systems (NASDAQ:BSY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The company reported $0.18 EPS for the quarter, meeting analysts' consensus estimates of $0.18. Bentley Systems had a return on equity of 33.87% and a net margin of 26.60%. The firm had revenue of $310.64 million for the quarter, compared to analysts' expectations of $313.67 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Bentley Systems will post 0.82 earnings per share for the current fiscal year.

Insider Activity at Bentley Systems

In related news, Director Keith A. Bentley sold 88,925 shares of Bentley Systems stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total value of $4,400,009.00. Following the transaction, the director now directly owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Bentley Systems news, Director Keith A. Bentley sold 88,925 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $49.48, for a total transaction of $4,400,009.00. Following the sale, the director now directly owns 17,164,179 shares in the company, valued at approximately $849,283,576.92. 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 17,021 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $55.00, for a total transaction of $936,155.00. Following the completion of the transaction, the director now owns 17,150,752 shares of the company's stock, valued at approximately $943,291,360. The disclosure for this sale can be found here. Insiders own 21.12% of the company's stock.

Institutional Investors Weigh In On Bentley Systems

Several institutional investors and hedge funds have recently made changes to their positions in BSY. Russell Investments Group Ltd. raised its holdings in shares of Bentley Systems by 2.7% in the first quarter. Russell Investments Group Ltd. now owns 18,711 shares of the company's stock worth $977,000 after acquiring an additional 494 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Bentley Systems during the 1st quarter worth about $2,952,000. Forsta AP Fonden grew its holdings in shares of Bentley Systems by 45.0% during the first quarter. Forsta AP Fonden now owns 63,500 shares of the company's stock worth $3,316,000 after buying an additional 19,700 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Bentley Systems by 70.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,259 shares of the company's stock worth $745,000 after acquiring an additional 5,912 shares during the period. Finally, Envestnet Portfolio Solutions Inc. boosted its stake in Bentley Systems by 6.8% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 40,326 shares of the company's stock worth $2,106,000 after buying an additional 2,571 shares during 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.