Bentley Systems (NASDAQ:BSY) Sets New 52-Week High at $45.28

Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $45.28 and last traded at $44.91, with a volume of 375995 shares trading hands. The stock had previously closed at $42.07.

Wall Street Analysts Forecast Growth

BSY has been the subject of a number of analyst reports. Oppenheimer increased their price objective on Bentley Systems from $48.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, March 1st. Griffin Securities raised Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Wednesday. Royal Bank of Canada increased their price objective on Bentley Systems from $47.00 to $53.00 in a research note on Wednesday. Rosenblatt Securities downgraded Bentley Systems from a “buy” rating to a “neutral” rating and upped their target price for the company from $43.00 to $47.00 in a report on Wednesday. Finally, Mizuho upped their target price on Bentley Systems from $45.00 to $51.00 in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Bentley Systems presently has an average rating of “Moderate Buy” and an average price target of $50.44.

Bentley Systems Stock Performance

The business has a fifty day simple moving average of $41.85 and a 200-day simple moving average of $39.41. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 3.10. The firm has a market cap of $13.33 billion, a P/E 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 issued its quarterly earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $287.00 million during 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 company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $0.18 earnings per share. On average, sell-side analysts predict that Bentley Systems, Incorporated will post 0.65 EPS for the current fiscal year.

Insider Transactions at Bentley Systems

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Bentley Systems by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 19,845,069 shares of the company’s stock valued at $607,061,000 after acquiring an additional 353,032 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Bentley Systems by 3.0% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,061,158 shares of the company’s stock worth $368,951,000 after purchasing an additional 353,739 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Bentley Systems by 123.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,903,005 shares of the company’s stock worth $144,255,000 after purchasing an additional 2,155,885 shares in the last quarter. Siemens Pension Trust E V purchased a new position in Bentley Systems in the 4th quarter worth approximately $117,278,000. Finally, Geode Capital Management LLC lifted its holdings in Bentley Systems by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 2,853,410 shares of the company’s stock worth $105,366,000 after purchasing an additional 134,758 shares in the last quarter. 36.12% of the stock is currently owned by institutional investors.

Bentley Systems Company Profile

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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.