Oppenheimer Raises Bentley Systems (NASDAQ:BSY) Price Target to $59.00

Bentley Systems (NASDAQ:BSY) had its price objective lifted by equities researchers at Oppenheimer from $50.00 to $59.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 2.06% from the stock’s current price.

BSY has been the topic of several other reports. UBS Group upped their price objective on Bentley Systems from $48.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Rosenblatt Securities decreased their price target on Bentley Systems from $62.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank Of Canada increased their price target on Bentley Systems from $53.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. decreased their price target on Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.20.

Bentley Systems Stock Up 0.4%

Shares of BSY opened at $57.81 on Thursday. The stock has a market capitalization of $16.87 billion, a price-to-earnings ratio of 73.18, a price-to-earnings-growth ratio of 4.68 and a beta of 1.09. Bentley Systems has a 1 year low of $36.51 and a 1 year high of $57.99. The business’s 50 day simple moving average is $51.22 and its 200-day simple moving average is $46.52. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.49 and a quick ratio of 0.49.

Bentley Systems (NASDAQ:BSY) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. The business had revenue of $370.54 million for the quarter, compared to analysts’ expectations of $366.76 million. Bentley Systems had a return on equity of 29.18% and a net margin of 18.46%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 EPS. As a group, equities analysts expect that Bentley Systems will post 0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bentley Systems news, CRO Brock Ballard sold 12,363 shares of the company’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $45.08, for a total value of $557,324.04. Following the transaction, the executive owned 68,064 shares of the company’s stock, valued at $3,068,325.12. This represents a 15.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction on 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,201,832 shares of company stock worth $61,414,013. Insiders own 20.56% of the company’s stock.

Hedge Funds Weigh In On Bentley Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in BSY. Proficio Capital Partners LLC bought a new position in shares of Bentley Systems during the 4th quarter worth $809,000. Intech Investment Management LLC grew its position in shares of Bentley Systems by 3.6% during the 4th quarter. Intech Investment Management LLC now owns 7,283 shares of the company’s stock worth $340,000 after buying an additional 254 shares in the last quarter. Xponance Inc. grew its position in shares of Bentley Systems by 3.2% during the 4th quarter. Xponance Inc. now owns 29,769 shares of the company’s stock worth $1,390,000 after buying an additional 935 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Bentley Systems during the 4th quarter worth $3,867,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Bentley Systems during the 4th quarter worth $2,363,000. Institutional investors 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.