Bentley Systems (NASDAQ:BSY) Given New $64.00 Price Target at Robert W. Baird

Bentley Systems (NASDAQ:BSY) had its target price increased by investment analysts at Robert W. Baird from $54.00 to $64.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Robert W. Baird’s price objective suggests a potential upside of 12.04% from the company’s current price.

A number of other equities research analysts have also recently commented on BSY. Royal Bank Of Canada increased their target price on Bentley Systems from $53.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 8th. Wall Street Zen lowered Bentley Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 16th. JPMorgan Chase & Co. lowered their target price on shares of Bentley Systems from $52.00 to $45.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 9th. Rosenblatt Securities cut their target price on shares of Bentley Systems from $62.00 to $53.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Finally, KeyCorp lifted their price objective on shares of Bentley Systems from $56.00 to $59.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned 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 target price of $53.70.

Bentley Systems Trading Down 1.5%

Shares of NASDAQ BSY traded down $0.86 during mid-day trading on Wednesday, hitting $57.12. The stock had a trading volume of 1,519,801 shares, compared to its average volume of 1,350,574. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.49 and a current ratio of 0.49. Bentley Systems has a 1 year low of $36.51 and a 1 year high of $59.25. The business has a 50 day moving average price of $53.29 and a two-hundred day moving average price of $47.33. The firm has a market cap of $16.67 billion, a P/E ratio of 72.30, a price-to-earnings-growth ratio of 4.71 and a beta of 1.10.

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

Insiders Place Their Bets

In other news, insider David R. Shaman sold 19,348 shares of the company’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $56.96, for a total transaction of $1,102,062.08. Following the sale, the insider owned 647,609 shares of the company’s stock, valued at approximately $36,887,808.64. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith A. Bentley sold 150,000 shares of the company’s stock in a transaction on Monday, July 7th. The stock was sold at an average price of $55.54, for a total value of $8,331,000.00. Following the sale, the director directly owned 3,859,327 shares in the company, valued at $214,347,021.58. This represents a 3.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,202,232 shares of company stock worth $61,437,713 over the last ninety days. Company insiders own 20.56% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in Bentley Systems by 137.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 117,913 shares of the company’s stock worth $6,364,000 after purchasing an additional 68,300 shares during the period. Teacher Retirement System of Texas boosted its stake in Bentley Systems by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 24,350 shares of the company’s stock worth $1,314,000 after purchasing an additional 975 shares during the period. Bessemer Group Inc. boosted its stake in Bentley Systems by 3.6% during the 2nd quarter. Bessemer Group Inc. now owns 1,951,363 shares of the company’s stock worth $105,314,000 after purchasing an additional 68,155 shares during the period. Wealthfront Advisers LLC boosted its stake in Bentley Systems by 14.8% during the 2nd quarter. Wealthfront Advisers LLC now owns 10,993 shares of the company’s stock worth $593,000 after purchasing an additional 1,419 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in Bentley Systems by 3.4% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 334,382 shares of the company’s stock worth $18,047,000 after purchasing an additional 11,008 shares during the period. 44.16% of the stock is owned by hedge funds and other institutional investors.

About Bentley Systems

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.