Bentley Systems (NASDAQ:BSY) Price Target Raised to $51.00 at Mizuho

Bentley Systems (NASDAQ:BSY – Get Rating) had its price objective raised by Mizuho from $45.00 to $51.00 in a research note issued to investors on Wednesday, The Fly reports.

A number of other research firms have also recently issued reports on BSY. Royal Bank of Canada reiterated an outperform rating and set a $47.00 target price on shares of Bentley Systems in a report on Friday, March 24th. Oppenheimer raised their price objective on Bentley Systems from $48.00 to $50.00 and gave the company an outperform rating in a report on Wednesday, March 1st. KeyCorp raised their price objective on Bentley Systems from $47.00 to $53.00 in a report on Wednesday. Finally, Rosenblatt Securities downgraded shares of Bentley Systems from a buy rating to a neutral rating and raised their target price for the company from $43.00 to $47.00 in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Bentley Systems has an average rating of Moderate Buy and an average target price of $50.44.

Bentley Systems Stock Down 0.9 %

NASDAQ:BSY opened at $45.89 on Wednesday. The stock’s fifty day moving average price is $41.85 and its two-hundred day moving average price is $39.41. Bentley Systems has a 52-week low of $26.32 and a 52-week high of $46.97. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 83.44, a P/E/G ratio of 7.92 and a beta of 1.20.

Bentley Systems (NASDAQ:BSY – Get Rating) last posted its quarterly earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $287.00 million for the quarter, compared to the consensus estimate of $280.85 million. Bentley Systems had a return on equity of 41.48% and a net margin of 15.90%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. On average, analysts anticipate that Bentley Systems will post 0.65 EPS for the current year.

Insiders Place Their Bets

In related news, Director Barry J. Bentley sold 50,830 shares of Bentley Systems stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $42.51, for a total transaction of $2,160,783.30. Following the completion of the transaction, the director now directly owns 12,594,258 shares of the company’s stock, valued at approximately $535,381,907.58. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Bentley Systems news, CEO Gregory S. Bentley sold 45,723 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $42.15, for a total value of $1,927,224.45. Following the completion of the transaction, the chief executive officer now directly owns 8,228,960 shares in the company, valued at $346,850,664. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Barry J. Bentley sold 50,830 shares of the stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $42.51, for a total transaction of $2,160,783.30. Following the transaction, the director now owns 12,594,258 shares of the company’s stock, valued at approximately $535,381,907.58. The disclosure for this sale can be found here. Insiders have sold a total of 131,553 shares of company stock valued at $5,592,308 in the last quarter. Insiders own 22.53% of the company’s stock.

Institutional Investors Weigh In On Bentley Systems

Several hedge funds and other institutional investors have recently made changes to their positions in BSY. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Bentley Systems in the 1st quarter valued at about $241,000. US Bancorp DE increased its holdings in Bentley Systems by 250.8% in the 1st quarter. US Bancorp DE now owns 4,806 shares of the company’s stock worth $213,000 after acquiring an additional 3,436 shares in the last quarter. HighTower Advisors LLC increased its holdings in Bentley Systems by 96.7% in the 1st quarter. HighTower Advisors LLC now owns 10,401 shares of the company’s stock worth $459,000 after acquiring an additional 5,114 shares in the last quarter. Citigroup Inc. boosted its stake in Bentley Systems by 31.2% during the 1st quarter. Citigroup Inc. now owns 71,746 shares of the company’s stock worth $3,170,000 after purchasing an additional 17,080 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Bentley Systems by 315.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,226 shares of the company’s stock valued at $55,000 after acquiring an additional 931 shares during the last quarter. Hedge funds and other institutional investors own 36.12% of the company’s stock.

About Bentley Systems

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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.