Bentley Systems (NASDAQ:BSY) Sets New 12-Month High at $47.08

Bentley Systems, Incorporated (NASDAQ:BSY – Get Rating)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $47.08 and last traded at $46.96, with a volume of 95218 shares traded. The stock had previously closed at $46.06.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Robert W. Baird raised their target price on Bentley Systems from $48.00 to $50.00 in a research note on Wednesday, May 10th. Mizuho raised their target price on Bentley Systems from $45.00 to $51.00 in a research note on Wednesday, May 10th. Royal Bank of Canada raised their target price on Bentley Systems from $47.00 to $53.00 in a research note on Wednesday, May 10th. Griffin Securities raised Bentley Systems from a “neutral” rating to a “buy” rating and set a $58.00 target price for the company in a research note on Wednesday, May 10th. Finally, Oppenheimer raised their target price on Bentley Systems from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.78.

Bentley Systems Price Performance

The firm has a market capitalization of $13.07 billion, a price-to-earnings ratio of 90.94, a PEG ratio of 8.31 and a beta of 1.20. The company has a debt-to-equity ratio of 2.72, a current ratio of 0.60 and a quick ratio of 0.60. The stock has a 50 day moving average price of $42.87 and a two-hundred day moving average price of $40.18.

Bentley Systems (NASDAQ:BSY – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company 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 38.40% and a net margin of 14.40%. Bentley Systems’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.18 EPS. As a group, analysts expect that Bentley Systems, Incorporated will post 0.67 EPS for the current year.

Insiders Place Their Bets

In other Bentley Systems 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 transaction of $2,160,783.30. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Nicholas Cumins sold 28,000 shares of the business’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $46.01, for a total value of $1,288,280.00. Following the completion of the sale, the chief operating officer now directly owns 163,417 shares of the company’s stock, valued at approximately $7,518,816.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barry J. Bentley sold 50,830 shares of the business’s stock in a transaction dated Thursday, March 30th. The shares were 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 of the company’s stock, valued at $535,381,907.58. The disclosure for this sale can be found here. Insiders sold 295,698 shares of company stock valued at $13,083,953 in the last ninety days. Insiders own 22.53% of the company’s stock.

Institutional Trading of Bentley Systems

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. increased its position in Bentley Systems by 272.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 52,366 shares of the company’s stock valued at $2,250,000 after acquiring an additional 38,318 shares during the period. Thrivent Financial for Lutherans acquired a new position in Bentley Systems in the 1st quarter valued at about $1,202,000. Kayne Anderson Rudnick Investment Management LLC increased its position in Bentley Systems by 4.1% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 12,629,227 shares of the company’s stock valued at $542,931,000 after acquiring an additional 495,852 shares during the period. First Trust Advisors LP increased its position in Bentley Systems by 286.1% in the 1st quarter. First Trust Advisors LP now owns 438,847 shares of the company’s stock valued at $18,866,000 after acquiring an additional 325,191 shares during the period. Finally, Geode Capital Management LLC increased its position in Bentley Systems by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 2,938,279 shares of the company’s stock valued at $126,162,000 after acquiring an additional 84,869 shares during the period. 36.12% of the stock is owned by hedge funds and other 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.