Bentley Systems (NASDAQ:BSY) Given New $50.00 Price Target at Bank of America

Bentley Systems (NASDAQ:BSYGet Rating) had its target price lowered by research analysts at Bank of America from $60.00 to $50.00 in a research note issued on Tuesday, The Fly reports. Bank of America‘s price target suggests a potential upside of 60.00% from the stock’s current price.

BSY has been the topic of several other research reports. Royal Bank of Canada cut their target price on Bentley Systems from $65.00 to $55.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 2nd. KeyCorp cut their target price on Bentley Systems from $72.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 2nd. Zacks Investment Research lowered Bentley Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, March 9th. Mizuho cut their target price on Bentley Systems from $65.00 to $60.00 in a research note on Tuesday, January 18th. Finally, The Goldman Sachs Group dropped their price target on Bentley Systems from $60.00 to $52.00 in a research note on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Bentley Systems currently has an average rating of “Buy” and an average price target of $56.56.

Shares of Bentley Systems stock traded down $4.93 during trading on Tuesday, hitting $31.25. 1,891,921 shares of the stock traded hands, compared to its average volume of 1,026,487. The firm has a market cap of $8.63 billion, a P/E ratio of 111.61, a price-to-earnings-growth ratio of 6.52 and a beta of 0.88. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 3.50. Bentley Systems has a 52-week low of $31.09 and a 52-week high of $71.92. The stock’s fifty day simple moving average is $41.10 and its 200 day simple moving average is $44.99.

Bentley Systems (NASDAQ:BSYGet Rating) last posted its earnings results on Tuesday, March 1st. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Bentley Systems had a return on equity of 56.39% and a net margin of 9.40%. The company had revenue of $267.70 million for the quarter, compared to analyst estimates of $262.23 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, equities analysts expect that Bentley Systems will post 0.57 EPS for the current year.

In related news, Director Raymond B. Bentley sold 104,340 shares of Bentley Systems stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $42.73, for a total transaction of $4,458,448.20. Following the completion of the sale, the director now owns 17,860,832 shares of the company’s stock, valued at $763,193,351.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Raymond B. Bentley sold 213,547 shares of Bentley Systems stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $42.66, for a total value of $9,109,915.02. Following the sale, the director now directly owns 17,647,285 shares of the company’s stock, valued at approximately $752,833,178.10. The disclosure for this sale can be found here. Insiders have sold 592,577 shares of company stock worth $25,285,068 in the last 90 days. Insiders own 22.53% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Van ECK Associates Corp lifted its holdings in Bentley Systems by 10.9% in the first quarter. Van ECK Associates Corp now owns 21,001 shares of the company’s stock valued at $928,000 after acquiring an additional 2,061 shares during the period. MAI Capital Management lifted its holdings in Bentley Systems by 9.8% in the first quarter. MAI Capital Management now owns 6,217 shares of the company’s stock valued at $275,000 after acquiring an additional 553 shares during the period. NewEdge Wealth LLC lifted its holdings in Bentley Systems by 54.9% in the first quarter. NewEdge Wealth LLC now owns 32,855 shares of the company’s stock valued at $1,452,000 after acquiring an additional 11,646 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in Bentley Systems by 8.0% in the first quarter. Elo Mutual Pension Insurance Co now owns 13,841 shares of the company’s stock valued at $611,000 after acquiring an additional 1,025 shares during the period. Finally, Advisors Capital Management LLC lifted its holdings in Bentley Systems by 9.8% in the first quarter. Advisors Capital Management LLC now owns 287,239 shares of the company’s stock valued at $12,690,000 after acquiring an additional 25,594 shares during the period. 33.12% of the stock is owned by institutional investors.

Bentley Systems Company Profile (Get Rating)

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 and open simulation applications for infrastructure design integration, which include MicroStation, OpenRoads, OpenRail, OpenPlant, OpenBuildings, OpenBridge, OpenSite, OpenFlows, STAAD and RAM, SACS, MOSES, AutoPIPE, SITEOPS, CUBE, DYNAMEQ, EMME, and LEGION; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including Leapfrog, AGS Workbench, GeoStudio, Imago, MX Deposit, Oasis montaj, PLAXIS, and OpenGround.

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