Weiss Ratings Reiterates "Hold (C)" Rating for Bentley Systems (NASDAQ:BSY)

Key Points

• Weiss Ratings has reiterated its "Hold (C)" rating for Bentley Systems (NASDAQ: BSY), while several other analysts have raised their price targets for the stock, indicating varying levels of investment sentiment.
• The company's recent quarterly earnings report showed a 10.2% year-over-year revenue increase, with an earnings per share of $0.32 that surpassed analyst expectations.
• Insider trading activity has been noted, with David R. Shaman selling 19,348 shares, representing a decrease in his ownership percentage in the company.

Bentley Systems (NASDAQ:BSY - Get Free Report)'s stock had its "hold (c)" rating restated by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts also recently commented on BSY. Oppenheimer raised their target price on shares of Bentley Systems from $59.00 to $65.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. KeyCorp raised 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. The Goldman Sachs Group raised their price target on shares of Bentley Systems from $42.00 to $47.00 and gave the company a "sell" rating in a report on Thursday, August 7th. UBS Group raised their price target on shares of Bentley Systems from $53.00 to $60.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Piper Sandler raised their price target on shares of Bentley Systems from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $56.64.

Bentley Systems Stock Performance

NASDAQ BSY traded down $1.64 during trading hours on Wednesday, hitting $50.91. 3,520,950 shares of the stock were exchanged, compared to its average volume of 1,697,921. The company has a market cap of $14.87 billion, a price-to-earnings ratio of 64.44, a price-to-earnings-growth ratio of 4.58 and a beta of 1.07. Bentley Systems has a 12-month low of $36.51 and a 12-month high of $59.25. The stock has a 50-day moving average of $53.89 and a 200 day moving average of $50.21. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.07.

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. Bentley Systems had a net margin of 17.91% and a return on equity of 28.41%. The business had revenue of $364.11 million for the quarter, compared to analyst estimates of $363.51 million. During the same period in the prior year, the business earned $0.31 earnings per share. The company's quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts forecast that Bentley Systems will post 0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David R. Shaman sold 19,348 shares of Bentley Systems stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $56.96, for a total value of $1,102,062.08. Following the sale, the insider directly owned 647,609 shares in the company, valued at $36,887,808.64. This trade represents a 2.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 20,713 shares of company stock valued at $1,180,690. Company insiders own 20.56% of the company's stock.

Hedge Funds Weigh In On Bentley Systems

Hedge funds have recently made changes to their positions in the business. City Holding Co. acquired a new position in shares of Bentley Systems in the 1st quarter worth approximately $26,000. Geneos Wealth Management Inc. grew its stake in shares of Bentley Systems by 1,529.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 668 shares of the company's stock worth $26,000 after purchasing an additional 627 shares during the last quarter. Allworth Financial LP grew its stake in shares of Bentley Systems by 37.6% in the 2nd quarter. Allworth Financial LP now owns 702 shares of the company's stock worth $38,000 after purchasing an additional 192 shares during the last quarter. Assetmark Inc. grew its stake in shares of Bentley Systems by 682.8% in the 2nd quarter. Assetmark Inc. now owns 728 shares of the company's stock worth $39,000 after purchasing an additional 635 shares during the last quarter. Finally, Twin Tree Management LP grew its stake in shares of Bentley Systems by 361.9% in the 1st quarter. Twin Tree Management LP now owns 739 shares of the company's stock worth $29,000 after purchasing an additional 579 shares during the last quarter. Institutional investors and hedge funds 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.

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